Organizational Meeting

Sec. 861.055. ORGANIZATIONAL MEETING. (a) After receiving a certified copy of the articles of incorporation under Section 861.052, a general casualty company shall promptly call a meeting of the company's shareholders. (b) At the meeting the shareholders shall: (1) adopt bylaws to govern the company; and (2) elect a board of directors composed of shareholders of the company. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. SUBCHAPTER C. AUTHORITY TO ENGAGE IN BUSINESS