Texas § 822.153 ELECTION OF DIRECTORS.

Texas Statutes

§ 822.153 — ELECTION OF DIRECTORS.

Texas § 822.153

Code INInsurance Code

This text of Texas § 822.153 (ELECTION OF DIRECTORS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 822.153 (2026).

Text

Sec. 822.153. ELECTION OF DIRECTORS.

(a)Not later than the 30th day after the date on which the company's subscription books are filed, the shareholders of an insurance company shall meet to elect the company's initial board of directors. At the meeting, each shareholder is entitled to one vote for each share of stock.

(b)The shareholders of an insurance company shall meet annually as provided by the company's bylaws to elect successor directors.

(c)If the shareholders do not elect directors at an annual meeting, the shareholders may elect the directors at a special shareholders meeting called for that purpose. Not later than the 30th day before the date of the special meeting, the shareholders must publish notice of the meeting in a newspaper of general circulation in the county in whi

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 822.153. ELECTION OF DIRECTORS. (a) Not later than the 30th day after the date on which the company's subscription books are filed, the shareholders of an insurance company shall meet to elect the company's initial board of directors. At the meeting, each shareholder is entitled to one vote for each share of stock.
(b) The shareholders of an insurance company shall meet annually as provided by the company's bylaws to elect successor directors.
(c) If the shareholders do not elect directors at an annual meeting, the shareholders may elect the directors at a special shareholders meeting called for that purpose. Not later than the 30th day before the date of the special meeting, the shareholders must publish notice of the meeting in a newspaper of general circulation in the county in which the principal office of the company is located.

Legislative History

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2021, 87th Leg., R.S., Ch. 380 (S.B. 918 ), Sec. 2, eff. September 1, 2021.