GroundRules
Tex. Insurance Code § 884.556: MEMBERS MEETING; PROCEDURES.
Where this section sits in the code
- INSURANCE CODE
- TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
- SUBTITLE E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES
- CHAPTER 884. STIPULATED PREMIUM INSURANCE COMPANIES
- SUBCHAPTER L. DIRECT REINSURANCE AGREEMENTS WITH MUTUAL ASSESSMENT COMPANIES
(a) In a meeting called under Section 884.555, a member may vote in person, by proxy to whomever the member designates, or by mail.
(b) All votes must be cast by ballot. A two-thirds vote of the members participating in the election is required to ratify the reinsurance agreement.
(c) The person presiding at the meeting shall supervise and direct the procedure of the meeting and shall appoint an adequate number of inspectors to conduct the voting at the meeting.
(d) The inspectors may determine all questions concerning the qualifications of the voters and the verification, canvassing, and validity of the ballots.
(e) At the conclusion of the meeting, the inspectors shall certify under oath the result of the election to the department and to the stipulated premium company that is a party to the proposed agreement.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Collected 2026-08-27T01:47:21Z. Source file · JSON