Texas Insurance Code

§ 841.151 — CONDUCTING SHAREHOLDERS' MEETING

IN § 841.151Title 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. D. MANAGEMENT OF COMPANY

Statute text

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(a)At a meeting of a domestic insurance company's shareholders, each shareholder is entitled to one vote for each fully paid up share of stock appearing in the shareholder's name on the company's books, except to the extent that the articles of incorporation increase, limit, or deny voting rights to the holders of the shares of a class of stock as authorized by the Texas Business Corporation Act.

(b)A shareholder may vote in person or by written proxy.

(c)At a shareholders' meeting, a quorum is any number of shareholders whose cumulative stock ownership in the domestic insurance company represents a majority of the company's paid up capital stock.

Legislative history

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