Sec. 882.157. OFFICER BONDS. The president, secretary, and treasurer of a mutual life insurance company shall each provide a bond for the protection of the company's policyholders:
(1) in an amount and with sureties approved by the commissioner; and
(2) conditioned on the faithful performance of the officer's duties.
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