Tex. Ins. Code § 911.054 - Charter And Articles Of Incorporation

Cite as:Tex. Ins. Code § 911.054
Currency:Current with legislation from the 2019 Regular Session effective as of December 31, 2020
 
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(a) The charter and articles of incorporation of an association that wants to form a farm mutual insurance company must state the names and post office addresses of at least 25 charter members of the company, all of whom are residents of one or more adjoining counties in this state and each of whom must:

(1) be a member of the association;

(2) own at least $5,000 of insurable property for which the member has applied in writing for insurance coverage from the company to be formed; and

(3) sign the charter and articles of incorporation.

(b) In addition to the requirements of Subsection (a), the charter must:

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