S.B. No. 2077 amends the qualifications for members of the board of directors of the Texas Mutual Insurance Company by updating the criteria that disqualify individuals from serving. The bill specifies that an individual cannot serve on the board if they or a related individual within the first degree of consanguinity or affinity is a licensed insurance agent, serves in any capacity for an insurer writing workers' compensation insurance in Texas or its affiliates, owns or manages such an insurer, receives substantial benefits from the company or the department, or is associated with an insurance association.

Additionally, the bill clarifies that the amendments do not affect the entitlement of current board members to complete their terms. The act will take effect immediately if it receives a two-thirds vote from both houses; otherwise, it will take effect on September 1, 2025.

Statutes affected:
Introduced: Insurance Code 2054.052 (Insurance Code 2054)
Senate Committee Report: Insurance Code 2054.052 (Insurance Code 2054)
Engrossed: Insurance Code 2054.052 (Insurance Code 2054)
House Committee Report: Insurance Code 2054.052 (Insurance Code 2054)
Enrolled: Insurance Code 2054.052 (Insurance Code 2054)