Bill: SB 918, 87(R) - 2021

Committee

Senate Business and Commerce

2nd Chamber Committee

House Insurance

Vote Recommendation

Vote Recommendation Economic Freedom Property Rights Personal Responsibility Limited Government Individual Liberty
Neutral Neutral Neutral Neutral Neutral Neutral

Author(s)

Lois Kolkhorst

Sponsor(s)

Ben Leman

Bill Caption

Relating to the size, terms, and election of boards of directors of certain insurance companies.

Fiscal Notes

No fiscal implication to the State is anticipated. 

Bill Analysis

SB 918 would amend existing law to require insurance company boards to have at least 5 members instead of at least 7 members. The bill would change the shareholder meeting requirement to simply be annually, rather than the current requirement that meetings be held annually before May 1st. 

Additionally, the bill would expand certain statutory language regarding staggered terms for large boards of directors to include all boards of directors rather than only large ones. 

Vote Recommendation Notes

As SB 918 does not pertain to the liberty principles, Texas Action is neutral on this bill.


Source URL (retrieved on 03/28/2024 08:03 AM): http://reports.texasaction.com/bill/87r/sb918?print_view=true