Sec. 462.052. BOARD OF DIRECTORS. (a) The association's powers are exercised through a board of directors consisting of nine individuals.
(b) Member insurers shall select five insurance industry board members, subject to the approval of the commissioner. In approving selections to the board, the commissioner shall consider whether all member insurers are fairly represented.
(c) Four board members must be public representatives appointed by the commissioner.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle D - Guaranty Associations
Chapter 462 - Texas Property and Casualty Insurance Guaranty Association
Subchapter B. Governance of Association
Section 462.051. Association as Legal Entity; Membership
Section 462.052. Board of Directors
Section 462.053. Eligibility to Serve as Public Representative
Section 462.054. Eligibility to Serve as Industry Representative
Section 462.055. Term; Vacancy
Section 462.056. Reimbursement of Board Members
Section 462.057. Financial Statement of Board Member