(a) The board of directors of a mutual life insurance company shall elect the following officers for the company:
- (1) a president;
- (2) the number of vice presidents as required by the company's bylaws;
- (3) a secretary;
- (4) a treasurer;
- (5) a medical director; and
- (6) other officers as required by the company's bylaws.
- (b) The board shall establish the compensation of each officer.
- (c) The duties of each officer shall be prescribed by the company's bylaws.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.