Texas Insurance Code 884.152 – Board of Directors
Current as of: 2024 | Check for updates
|
Other versions
(a) Subject to the bylaws of the stipulated premium company, as adopted or amended by the shareholders or directors, the board of directors has full management and control of the company.
(b) The board consists of not fewer than five directors.
Terms Used In Texas Insurance Code 884.152
- Quorum: The number of legislators that must be present to do business.
(c) The directors shall keep a full and correct record of the board’s transactions. The shareholders may inspect those records during business hours.
(d) The directors shall fill a vacancy that occurs on the board or in any office of the company.
(e) A majority of the board is a quorum.