Tex. Ins. Code § 861.055

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 861.055 - Organizational Meeting

(a) After receiving a certified copy of the articles of incorporation under Section 861.052, a general casualty company shall promptly call a meeting of the company's shareholders.

(b) At the meeting the shareholders shall:

(1) adopt bylaws to govern the company; and

(2) elect a board of directors composed of shareholders of the company.

Tex. Ins. Code § 861.055

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.