Texas Insurance Code

§ 841.063 — ORGANIZATION MEETING

IN § 841.063Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES · Ch. 841. LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES · Art. B. FORMATION AND STRUCTURE OF DOMESTIC COMPANIES

Statute text

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(a)After receipt of the certified copy of documents under Section 841.061(c), the incorporators shall promptly call a meeting of the domestic insurance company's shareholders. The shareholders shall:

(1)adopt bylaws to govern the company; and

(2)elect the company's initial board of directors.

(b)The directors elected under this section serve until directors are first elected under Section 841.153.

Legislative history

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