Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 883.057 - Membership of Public or Private Entities in Company Authorized(a) Any public or private corporation, board, association, or estate may make an application for, enter into an agreement for, or hold a policy in a mutual insurance company. An officer, shareholder, trustee, or legal representative may act on behalf of the entity for that participation.(b) An officer, shareholder, trustee, or legal representative of a public or private entity described by Subsection (a) may not be held personally liable on a contract of insurance executed by the person in the person's capacity as a representative of the entity under Subsection (a).(c) The right of a corporation organized under the laws of this state to participate as a member of a mutual insurance company is:(1) incidental to the purpose for which the corporation was organized; and(2) in addition to the corporate rights or powers expressly conferred in the corporation's articles of incorporation.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.