Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES |
Subtitle D. CASUALTY COMPANIES |
Chapter 861. GENERAL CASUALTY COMPANIES |
Subchapter B. FORMATION AND STRUCTURE OF GENERAL CASUALTY COMPANY |
Sec. 861.055. ORGANIZATIONAL MEETING
Latest version.
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(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.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.