Texas Insurance Code 884.151 – Conducting Shareholders’ Meeting
Current as of: 2024 | Check for updates
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(a) At a meeting of a stipulated premium company’s shareholders, each shareholder is entitled to one vote for each fully paid share of stock appearing in the shareholder’s name on the company’s books.
(b) A shareholder may vote in person or by written proxy.
Terms Used In Texas Insurance Code 884.151
- 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
- Quorum: The number of legislators that must be present to do business.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) At a shareholders’ meeting, a quorum is any number of shareholders whose cumulative stock ownership in the stipulated premium company represents a majority of the company’s paid up capital stock.