Sec. 2054.057. PROCEDURES FOR REMOVAL. (a) If the president of the company has knowledge that a potential ground for removal of a board member exists, the president shall notify the presiding officer of the board of the potential ground.
(b) If the potential ground for removal involves an appointed board member, the presiding officer shall notify the governor and the attorney general that a potential ground for removal exists.
(c) If the potential ground for removal involves the presiding officer, the president shall notify the next highest board officer, who shall notify the governor and the attorney general that a potential ground for removal exists.
(d) If the potential ground for removal involves an elected board member, the board shall act on the potential ground for removal as provided by the company's bylaws.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle E - Workers' Compensation Insurance
Chapter 2054 - Texas Mutual Insurance Company
Subchapter B. Board of Directors
Section 2054.051. Board of Directors; Composition
Section 2054.052. Qualifications
Section 2054.053. Presiding Officer; Other Officers
Section 2054.056. Grounds for Removal
Section 2054.057. Procedures for Removal