Texas Insurance Code 2204.054 – Directors
Current as of: 2024 | Check for updates
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(a) The directors shall operate and manage the exchange in accordance with rules adopted under Section 2204.003.
(b) The directors shall be elected by the members and any other person authorized by the exchange’s constitution and bylaws to vote in an election of directors.
Terms Used In Texas Insurance Code 2204.054
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
(c) At least two-thirds of the directors must be citizens of the United States.