Sec. 825.056. POLICYHOLDER VOTING. (a) A policyholder may vote in person, by proxy, or by mail. All votes must be cast by ballot.
(b) The commissioner shall appoint an adequate number of inspectors to conduct the voting at the policyholders' meeting.
(c) The inspectors determine all questions concerning the verification of the ballots, the validity of the ballots, the qualification of the voters, and the canvass of the vote and shall certify the results to the commissioner and the converting company.
(d) An inspector shall act under rules prescribed by the commissioner.
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
Chapter 825 - Conversion of Stock Insurance Company to Mutual Insurance Company
Subchapter B. Stock Acquisition Plan
Section 825.051. Contents of Stock Acquisition Plan
Section 825.052. Sufficient Assets Required
Section 825.053. Stock Acquisition Plan Approval
Section 825.054. Policyholder Eligibility