Sec. 883.058. MEMBERSHIP VOTES. Each member of a mutual insurance company is entitled to one vote on each matter submitted to a vote unless a different number of votes is authorized by the company's bylaws based on:
(1) the insurance in force;
(2) the number of policies held by the member; or
(3) the amount of the premium paid by the member.
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 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies
Subchapter B. Formation, Structure, and Management of Company
Section 883.051. Formation of Company
Section 883.052. Articles of Incorporation
Section 883.053. Company's Name
Section 883.054. Location of Principal or Home Office
Section 883.055. Beginning of Corporate Existence
Section 883.056. Board of Directors
Section 883.057. Membership of Public or Private Entities in Company Authorized