Texas Insurance Code
§ 841.155 — OFFICERS
IN § 841.155Title 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
View on source(a)A domestic insurance company's directors shall choose one of the directors to serve as the company's president.
(b)Other officers of the domestic insurance company shall be chosen in accordance with the company's bylaws. An officer is not required to be a shareholder unless such a qualification is required by the company's articles of incorporation or bylaws. An officer other than the president is not required to be a director unless such a qualification is required by the company's bylaws.
(c)The duties and compensation of a domestic insurance company's officers are as stated in the company's bylaws. If the bylaws do not state the duties or compensation of the officers, the directors shall establish the duties or compensation.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.