Sec. 885.054. REPRESENTATIVE FORM OF GOVERNMENT DEFINED. A fraternal benefit society has a representative form of government if:
(1) the society has a supreme governing body constituted as:
(A) an assembly, as described by Section 885.055; or
(B) a board, as described by Section 885.057;
(2) the officers of the society are elected by the supreme governing body or the board of directors;
(3) only a benefit member is eligible to serve as a member of the supreme governing body, the board of directors, or an intermediate assembly of the society;
(4) only a benefit member may vote on the management of the society's insurance affairs;
(5) a voting member of the society has only one vote; and
(6) a voting member of the society may not cast a vote by proxy.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Section: Previous 885.003 885.004 885.005 885.006 885.051 885.052 885.053 885.054 885.055 885.056 885.057 885.058 885.059 885.060 885.061 NextLast modified: September 28, 2016