Texas Insurance Code
§ 861.152 — GENERAL POWERS OF COMPANY
IN § 861.152Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part D. CASUALTY COMPANIES · Ch. 861. GENERAL CASUALTY COMPANIES · Art. D. POWERS AND DUTIES OF GENERAL CASUALTY COMPANY
Statute text
View on sourceA general casualty company may:
(1)sue or be sued in the name of the company;
(2)make or enforce contracts in relation to the business of the company;
(3)have and use a common seal;
(4)in its own name, or through a trustee chosen by the board of directors, acquire, purchase, hold, and dispose of real and personal property to further the purposes of the company; and
(5)through its board of directors, trustees, or managers, adopt and amend bylaws that include provisions establishing the qualifications, duties, and terms of office of and the manner of electing directors, trustees, or managers and officers of the company.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.