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Texas Insurance Code - INS § 885.054. Representative Form of Government Defined

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

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.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 885.054. Representative Form of Government Defined - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-885-054/

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