Sec. 882.054. INITIAL BOARD OF DIRECTORS; TERM. An initial director named as provided in Section 882.052 serves until:
(1) the first annual election of directors;
(2) the initial director's successor qualifies for office; or
(3) the initial director is removed from the board for improper practices.
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 E - Mutual and Fraternal Companies and Related Entities
Chapter 882 - Mutual Life Insurance Companies
Subchapter B. Formation and Structure of Mutual Life Insurance Company
Section 882.051. Authority to Form Company; Purpose
Section 882.052. Formation of Company; Articles of Incorporation
Section 882.053. Company's Name
Section 882.054. Initial Board of Directors; Term
Section 882.055. Unencumbered Surplus Requirements
Section 882.056. Application for Charter
Section 882.057. Application Process