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Texas Insurance Code - INS § 981.152. Board of Directors

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

(a) The board of directors of the stamping office exercises the powers of the office.

(b) The board consists of nine members appointed by the commissioner. Four members must represent the public and have a minimum of three years of experience in purchasing commercial insurance. A public representative may not:

(1) be an officer, director, or employee of an insurer, insurance agency, agent, broker, solicitor, or adjuster or any other business entity regulated by the department;

(2) be a person required to register under Chapter 305, Government Code; or

(3) be related to a person described by Subdivision (1) or (2) within the second degree by affinity or consanguinity.

(c) A board member serves a term as established in the plan of operation.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 981.152. Board of Directors - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-981-152/

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