Texas Insurance Code
§ 911.054 — CHARTER AND ARTICLES OF INCORPORATION
IN § 911.054Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part F. FARM AND COUNTY MUTUAL INSURANCE COMPANIES · Ch. 911. FARM MUTUAL INSURANCE COMPANIES · Art. B. ORGANIZATION OF FARM MUTUAL INSURANCE COMPANY; DIRECTORS
Statute text
View on source(a)The charter and articles of incorporation of an association that wants to form a farm mutual insurance company must state the names and post office addresses of at least 25 charter members of the company, all of whom are residents of one or more adjoining counties in this state and each of whom must:
(1)be a member of the association;
(2)own at least $5,000 of insurable property for which the member has applied in writing for insurance coverage from the company to be formed; and
(3)sign the charter and articles of incorporation.
(b)In addition to the requirements of Subsection (a), the charter must:
(1)be acknowledged before a notary public by at least five of the charter members described by Subsection (a);
…
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.