Bill Text: TX HB3247 | 2011-2012 | 82nd Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the management of the Texas Mutual Insurance Company.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-05-09 - Committee report sent to Calendars [HB3247 Detail]
Download: Texas-2011-HB3247-Introduced.html
Bill Title: Relating to the management of the Texas Mutual Insurance Company.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-05-09 - Committee report sent to Calendars [HB3247 Detail]
Download: Texas-2011-HB3247-Introduced.html
By: Elkins | H.B. No. 3247 |
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relating to the board of directors of the Texas Mutual Insurance | ||
Company. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Amend Section 2054.052 to read as follows: | ||
Sec. 2054.052. QUALIFICATIONS. (a) Each board member must | ||
be a resident of this state. | ||
(b) An individual may not serve as a board member if the | ||
individual or the individual's spouse [ |
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(1) is registered or licensed under this code or is | ||
required to be registered or licensed under this code; | ||
(2) is employed by or acts as an insurance [ |
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consultant to a person, or has a controlling financial interest in | ||
an organization, registered or licensed under this code or required | ||
to be registered or licensed under this code; | ||
(3) [ |
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[ |
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company or the department; or | ||
(4) [ |
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association in the field of insurance. | ||
(c) Subsection (b) does not prohibit an individual from | ||
serving as a board member if the individual is only a policyholder | ||
or a consumer of insurance or insurance products. | ||
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SECTION 2. Amend Section 2054.103(b), Insurance Code, to | ||
read as follows: | ||
(b) The president must have proven successful experience as | ||
an executive at the general management level in [ |
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SECTION 3. Section 2054.059(b), Insurance Code, is amended | ||
to read as follows: | ||
(b) A special meeting may be called by any two board members | ||
on five [ |
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SECTION 4. This Act takes effect September 1, 2011. |