- (a) The control of a farm mutual insurance company must be ultimately vested as provided by this chapter in the company's members through a supreme legislative or governing body, the members of which must be elected directly by the company's members or by delegates elected by the company's members.
- (b) Through the company's governing body, the company's members may establish local chapters, branches, lodges, or similar organizations.
- (c) The methods provided by this section for the control of a farm mutual insurance company are exclusive.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.