Tex. Ins. Code § 822.152 · Subchapter D. MANAGEMENT OF COMPANY
BOARD OF DIRECTORS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An insurance company organized under the laws of this state is managed by its board of directors.
(b) The board consists of not fewer than five directors. A director:
(1) is not required to be a shareholder unless such a qualification is required by the articles of incorporation or bylaws of the company; and
(2) serves until the director's successor is elected and accepts the position.
(c) The board of directors may adopt bylaws and regulations as necessary to conduct the company's business. A majority of the board is a quorum.
(d) The board of directors shall keep a full and correct record of the board's transactions. The shareholders or other interested persons may inspect those records during business hours.
(e) The directors shall fill a vacancy that occurs on the board or in any office of the company.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 380 (S.B. 918), Sec. 1, eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.822.htm
- Text hash
- sha256 e5966f5c1bafb4aa258e3e23c150e61c0ecafcaa55faabc61584b53662706bf0
- 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
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.