Texas HB4432 amends the qualifications for board members of the Texas Mutual Insurance Company.

Texas HB4432 amends the Insurance Code to update the qualifications for board members of the Texas Mutual Insurance Company. Specifically, it prohibits individuals from serving on the board if they or a related individual are licensed as insurance agents, serve in certain capacities for insurers, own or manage insurers, receive benefits from the company, or are officers or consultants of insurance associations. The changes take effect immediately if passed by a two-thirds vote in both houses, otherwise on September 1, 2025.

Texas HB4432 amends the qualifications for board members of the Texas Mutual Insurance Company.

Texas HB4432 amends the Insurance Code to update the qualifications for board members of the Texas Mutual Insurance Company. Specifically, it prohibits individuals from serving on the board if they or a related individual are licensed as insurance agents, serve in certain capacities for insurers, own or manage insurers, receive benefits from the company, or are officers or consultants of insurance associations. The changes take effect immediately if passed by a two-thirds vote in both houses, otherwise on September 1, 2025.