Texas Insurance Code

§ 882.157 — OFFICER BONDS

IN § 882.157Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 882. MUTUAL LIFE INSURANCE COMPANIES · Art. D. MANAGEMENT OF MUTUAL LIFE INSURANCE COMPANY

Statute text

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The president, secretary, and treasurer of a mutual life insurance company shall each provide a bond for the protection of the company's policyholders:

(1)in an amount and with sureties approved by the commissioner; and

(2)conditioned on the faithful performance of the officer's duties.

Legislative history

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