Sec. 822.151. CONDUCTING SHAREHOLDERS MEETING. (a) Except as otherwise provided by this code, at a meeting of an insurance company's shareholders to elect the company's board of directors or to transact other company business, a quorum is any number of shareholders whose cumulative ownership in the company represents at least 51 percent of the company's stock.
(b) A shareholder may vote in person or by proxy.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle B - Organization of Regulated Entities
Subchapter D. Management of Company
Section 822.151. Conducting Shareholders Meeting
Section 822.152. Board of Directors
Section 822.153. Election of Directors
Section 822.155. Application for Amendment of Charter
Section 822.156. Certificate Required for Amendment of Charter to Authorize Shares Without Par Value
Section 822.157. Action by Commissioner After Filing of Application for Charter Amendment
Section 822.158. Determination on Application for Charter Amendment