(a) Any public or private corporation, board, association, or estate may make an application
for, enter into an agreement for, or hold a policy in a mutual insurance company. An officer, shareholder, trustee, or legal representative may act on behalf of the
entity for that participation.
(b) An officer, shareholder, trustee, or legal representative of a public or private
entity described by Subsection (a) may not be held personally liable on a contract
of insurance executed by the person in the person's capacity as a representative of
the entity under Subsection (a).
(c) The right of a corporation organized under the laws of this state to participate
as a member of a mutual insurance company is:
(1) incidental to the purpose for which the corporation was organized; and
(2) in addition to the corporate rights or powers expressly conferred in the corporation's
articles of incorporation.
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