Tex. Ins. Code § 884.152 · Subchapter D. MANAGEMENT OF STIPULATED PREMIUM COMPANY
BOARD OF DIRECTORS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Subject to the bylaws of the stipulated premium company, as adopted or amended by the shareholders or directors, the board of directors has full management and control of the company.
(b) The board consists of not fewer than five directors.
(c) The directors shall keep a full and correct record of the board's transactions. The shareholders may inspect those records during business hours.
(d) The directors shall fill a vacancy that occurs on the board or in any office of the company.
(e) A majority of the board is a quorum.
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 f76423b0e48708813bad17e061c0970bf9916602438eff61e441ca01d73c3d33
- 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.