{"data":{"id":"us-tx/tex.-insurance-code-884.061","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 884.061","heading":"ORGANIZATIONAL MEETING.","body":"(a) After receipt of the certified copy of documents under Section 884.059(c), the incorporators shall promptly call a meeting of the stipulated premium company's shareholders. The shareholders shall:\n(1) adopt bylaws to govern the company; and\n(2) elect the company's initial board of directors.\n(b) The directors elected under this section serve until directors are first elected under Section 884.153.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["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 B. FORMATION AND STRUCTURE OF STIPULATED PREMIUM INSURANCE COMPANY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.884.htm#884.061","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"d4feec77b807965c5e2ecc23d5157d7c1c7460faf08dd47fb3f9f53b5d4c872f","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-884.060","next":"us-tx/tex.-insurance-code-884.101"},"notice":"GroundRules: Original legal text. Not legal advice."}