Sec. 883.056. BOARD OF DIRECTORS

Latest version.

(a) The board of directors named in a mutual insurance company's articles of incorporation shall manage the company until the initial meeting of the members of the company.
(b) After a mutual insurance company is issued a certificate of authority, the company's board of directors may:
(1) adopt bylaws;
(2) accept applications for insurance; and
(3) transact the business of the company.

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

                    
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