ORGANIZATIONAL MEETING.
Tex. INS Code § 884.061.
in effect(a) After receipt of the certified copy of documents under Section 884.059 (c), the incorporators shall promptly call a meeting of the stipulated premium company's shareholders. The shareholders shall:
(1) adopt bylaws to govern the company; and
(2) elect the company's initial board of directors.
(b) The directors elected under this section serve until directors are first elected under Section 884.153 .
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
SUBCHAPTER C. AUTHORITY TO ENGAGE IN BUSINESS