Sec. 883.056. BOARD OF DIRECTORS. (a) The board of directors named in a mutual insurance company's articles of incorporation shall manage the company until the initial meeting of the members of the company.
(b) After a mutual insurance company is issued a certificate of authority, the company's board of directors may:
(1) adopt bylaws;
(2) accept applications for insurance; and
(3) transact the business of the company.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Section: Previous 883.002 883.003 883.051 883.052 883.053 883.054 883.055 883.056 883.057 883.058 883.101 883.102 883.103 883.151 883.152 NextLast modified: September 28, 2016