Texas Insurance Code

§ 885.054 — REPRESENTATIVE FORM OF GOVERNMENT DEFINED

IN § 885.054Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 885. FRATERNAL BENEFIT SOCIETIES · Art. B. STRUCTURE OF FRATERNAL BENEFIT SOCIETY

Statute text

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A fraternal benefit society has a representative form of government if:

(1)the society has a supreme governing body constituted as:

(A)an assembly, as described by Section 885.055; or

(B)a board, as described by Section 885.057;

(2)the officers of the society are elected by the supreme governing body or the board of directors;

(3)only a benefit member is eligible to serve as a member of the supreme governing body, the board of directors, or an intermediate assembly of the society;

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Legislative history

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