Tex. Ins. Code Section 883.057
Membership of Public or Private Entities in Company Authorized

(a)

Any public or private corporation, board, association, or estate may make an application for, enter into an agreement for, or hold a policy in a mutual insurance company. An officer, shareholder, trustee, or legal representative may act on behalf of the entity for that participation.

(b)

An officer, shareholder, trustee, or legal representative of a public or private entity described by Subsection (a) may not be held personally liable on a contract of insurance executed by the person in the person’s capacity as a representative of the entity under Subsection (a).

(c)

The right of a corporation organized under the laws of this state to participate as a member of a mutual insurance company is:

(1)

incidental to the purpose for which the corporation was organized; and

(2)

in addition to the corporate rights or powers expressly conferred in the corporation’s articles of incorporation.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 883.057 — Membership of Public or Private Entities in Company Authorized, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­883.­htm#883.­057 (accessed Apr. 29, 2024).

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Accessed:
Apr. 29, 2024

§ 883.057’s source at texas​.gov