Texas SB2077 amends the Insurance Code to restrict who can serve on the board of directors of the Texas Mutual Insurance Company.

Texas SB2077 amends the Insurance Code to specify that an individual cannot serve as a board member of the Texas Mutual Insurance Company if they or a related individual have certain ties to insurers. These ties include being licensed as an insurance agent, working for an insurer or affiliate, owning or managing an insurer or affiliate, receiving benefits from the company, or being an officer, employee, or consultant of an association in the field of insurance. The changes take effect immediately if approved by two-thirds of the legislature, otherwise they take effect September 1, 2025.

Texas SB2077 amends the Insurance Code to restrict who can serve on the board of directors of the Texas Mutual Insurance Company.

Texas SB2077 amends the Insurance Code to specify that an individual cannot serve as a board member of the Texas Mutual Insurance Company if they or a related individual have certain ties to insurers. These ties include being licensed as an insurance agent, working for an insurer or affiliate, owning or managing an insurer or affiliate, receiving benefits from the company, or being an officer, employee, or consultant of an association in the field of insurance. The changes take effect immediately if approved by two-thirds of the legislature, otherwise they take effect September 1, 2025.