Tex. Ins. Code § 463.102 · Subchapter C. GENERAL POWERS AND DUTIES OF ASSOCIATION
PLAN OF OPERATION; AMENDMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The association shall perform the association's functions under a plan of operation approved by the commissioner. The plan of operation must:
(1) establish:
(A) procedures for handling the assets of the association;
(B) the amount and method of reimbursing board members under Section 463.056;
(C) regular places and times for board meetings, including telephone conference calls;
(D) procedures for maintaining records of all financial transactions of the association, the association's agents, and the board; and
(E) additional procedures for assessments under Subchapter D; and
(2) contain additional provisions necessary or proper for the execution of the association's powers and duties.
(b) The association may amend the plan of operation. An amendment must be approved by the commissioner and takes effect on:
(1) the date the commissioner approves the amendment; or
(2) the 60th day after the date the amendment is submitted to the commissioner for approval, if the commissioner does not approve or disapprove the amendment before the 60th day.
(c) Each member insurer shall comply with the plan of operation.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 8, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.463.htm
- Text hash
- sha256 276967e1a19fa373bf5768675a86f253e54960c5b28e26203aac16687ae26f9c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.