Texas Insurance Code

§ 911.058 — MEMBERSHIP CONTROL OF COMPANY

IN § 911.058Title 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

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(a)The control of a farm mutual insurance company must be ultimately vested as provided by this chapter in the company's members through a supreme legislative or governing body, the members of which must be elected directly by the company's members or by delegates elected by the company's members.

(b)Through the company's governing body, the company's members may establish local chapters, branches, lodges, or similar organizations.

(c)The methods provided by this section for the control of a farm mutual insurance company are exclusive.

Legislative history

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