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Texas Labor Code - Section 407A.453. Board Of Directors

Legal Research Home > Texas Lawyer > Labor Code > Texas Labor Code - Section 407A.453. Board Of Directors

§ 407A.453. BOARD OF DIRECTORS.  (a) The guaranty fund is 
managed by a board of directors.
	(b)  The board is composed of the following voting members:                    
		(1)  three members elected as provided by Subsection 
(c), each of whom represents a different group certified under this 
chapter;
		(2)  one member to represent wage earners designated by 
the commission;     
		(3)  one member designated by the commissioner;  and                          
		(4)  the public counsel of the office of public 
insurance counsel.          
	(c)  Representatives of each group certified under this 
chapter may participate equally in the election of the three 
members of the board elected under Subsection (b)(1).  A person 
elected under Subsection (b)(1) must be approved by the 
commissioner before the person may serve on the board.
	(d)  Notwithstanding Subsection (c), the commissioner shall 
appoint the initial board members representing groups.  A person 
appointed as an initial board member under this subsection is 
eligible to serve additional terms on election by the members of the 
guaranty fund.

Added by Acts 2005, 79th Leg., ch. 1055, § 1, eff. Sept. 1, 2005.          

Last modified: August 10, 2007