Tex. Insurance Code § 829.107
This is the official text of Tex. Insurance Code § 829.107, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 829.107. APPROVAL OF PLAN BY ELIGIBLE MEMBERS.
Official statutory text
(a) After notice that complies with this chapter, the converting exchange may convene a meeting to consider the conversion plan, and any eligible member entitled to vote on the proposed conversion plan may vote in person or by proxy at the meeting. Except as otherwise provided in the bylaws of the converting exchange, each eligible member may cast one vote.
(b) Adoption of the conversion plan requires the affirmative vote of at least two-thirds of the votes cast by eligible members.
(b) Adoption of the conversion plan requires the affirmative vote of at least two-thirds of the votes cast by eligible members.
Status: in_force · Read it on the official government site
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