Texas Insurance Code

§ 883.058 — MEMBERSHIP VOTES

IN § 883.058Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 883. MUTUAL INSURANCE COMPANIES OTHER THAN MUTUAL LIFE INSURANCE COMPANIES · Art. B. FORMATION, STRUCTURE, AND MANAGEMENT OF COMPANY

Statute text

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Each member of a mutual insurance company is entitled to one vote on each matter submitted to a vote unless a different number of votes is authorized by the company's bylaws based on:

(1)the insurance in force;

(2)the number of policies held by the member; or

(3)the amount of the premium paid by the member.

Legislative history

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