Sec. 882.155. VOTING BY POLICYHOLDERS. (a) At an annual or special meeting of a mutual life insurance company, each policyholder is entitled to one vote for each $500 of insurance held by the policyholder in the company.
(b) A policyholder may vote at an annual or special meeting by proxy, unless the proxy is revoked before the meeting.
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 D. Management of Mutual Life Insurance Company
Section 882.151. Board of Directors
Section 882.152. Adoption of Initial Bylaws
Section 882.153. Annual Meeting
Section 882.154. Staggered Terms for Large Board of Directors
Section 882.155. Voting by Policyholders