Tex. Ins. Code § 861.152

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

Section 861.152 - General Powers of Company

A general casualty company may:

(1) sue or be sued in the name of the company;

(2) make or enforce contracts in relation to the business of the company;

(3) have and use a common seal;

(4) in its own name, or through a trustee chosen by the board of directors, acquire, purchase, hold, and dispose of real and personal property to further the purposes of the company; and

(5) through its board of directors, trustees, or managers, adopt and amend bylaws that include provisions establishing the qualifications, duties, and terms of office of and the manner of electing directors, trustees, or managers and officers of the company.

Tex. Ins. Code § 861.152

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