Tex. Ins. Code § 884.061 · Subchapter B. FORMATION AND STRUCTURE OF STIPULATED PREMIUM INSURANCE COMPANY
ORGANIZATIONAL MEETING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) After receipt of the certified copy of documents under Section 884.059(c), the incorporators shall promptly call a meeting of the stipulated premium company's shareholders. The shareholders shall:
(1) adopt bylaws to govern the company; and
(2) elect the company's initial board of directors.
(b) The directors elected under this section serve until directors are first elected under Section 884.153.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.884.htm
- Text hash
- sha256 6aa485df0fb10f9485f38aee2864ffc07d58abb4ca4f6480134996a528acb4d4
- 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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