Tex. Insurance Code § 822.152
BOARD OF DIRECTORS
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 822.152, BOARD OF DIRECTORS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/678990
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Full text
(a) An insurance company organized under the laws of this state is managed by its board of directors.
(b) The board consists of not fewer than five directors. A director:
(1) is not required to be a shareholder unless such a qualification is required by the articles of incorporation or bylaws of the company; and
(2) serves until the director's successor is elected and accepts the position.
(c) The board of directors may adopt bylaws and regulations as necessary to conduct the company's business. A majority of the board is a quorum.
(d) The board of directors shall keep a full and correct record of the board's transactions. The shareholders or other interested persons may inspect those records during business hours.
(e) The directors shall fill a vacancy that occurs on the board or in any office of the company.