Texas Insurance Code
§ 884.153 — ELECTION OF DIRECTORS
IN § 884.153Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 884. STIPULATED PREMIUM INSURANCE COMPANIES · Art. D. MANAGEMENT OF STIPULATED PREMIUM COMPANY
Statute text
View on source(a)On the second Tuesday of April of each year the shareholders of a stipulated premium company shall meet at the company's home office and shall elect the company's board of directors to serve one-year terms beginning immediately after the election.
(b)If the shareholders do not elect directors at that meeting, the shareholders may elect the directors at a special shareholders' meeting called for that purpose.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.