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Texas Insurance Code - INS § 2210.107. Primary Board Objectives;  Report

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The primary objectives of the board of directors are to ensure that the board and the association:

(1) operate in accordance with this chapter, the plan of operation, and commissioner rules;

(2) comply with sound insurance principles;

(3) meet all standards imposed under this chapter;

(4) establish a code of conduct and performance standards for association employees and persons with which the association contracts;  and

(5) establish, and adhere to terms of, an annual evaluation of association management necessary to achieve the statutory purpose, board objectives, and any performance or enterprise risk management objectives established by the board.

(b) Repealed by Acts 2019, 86th Leg., ch. 525 (S.B. 615), § 17.

(c) Not later than June 1 of each year, the association shall submit to the commissioner, the legislative oversight board established under Subchapter N, the governor, the lieutenant governor, and the speaker of the house of representatives a report evaluating the extent to which the board met the objectives described by Subsection (a) in the 12-month period immediately preceding the date of the report.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2210.107. Primary Board Objectives;  Report - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2210-107/

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