Texas Insurance Code

§ 825.056 — POLICYHOLDER VOTING

IN § 825.056Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 825. CONVERSION OF STOCK INSURANCE COMPANY TO MUTUAL INSURANCE COMPANY · Art. B. STOCK ACQUISITION PLAN

Statute text

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(a)A policyholder may vote in person, by proxy, or by mail. All votes must be cast by ballot.

(b)The commissioner shall appoint an adequate number of inspectors to conduct the voting at the policyholders' meeting.

(c)The inspectors determine all questions concerning the verification of the ballots, the validity of the ballots, the qualification of the voters, and the canvass of the vote and shall certify the results to the commissioner and the converting company.

(d)An inspector shall act under rules prescribed by the commissioner.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.