Board of Directors Meeting Summary

On September 16, 2020, the Surplus Lines Stamping Office of Texas held their annual third quarter Audit & Finance Committee meeting pursuance to code 2(c)(10) of SLTX’s Plan of Operation. The committee discussed agenda topics including SLTX’s financial review, Financial Audit engagement letter for 2020 audit, and the SLTX budget for 2021.

The following day, the Stamping Office Board of Directors held their September meeting. The meeting was held via teleconference and all members were in attendance. The board discussed various topics on the agenda including approval of previous board minutes, finance and audit committee report, Legal RFP review, insurance program renewals, IT Cloud Migration RFP, status of stamping fee proposal, and the plan of operation for SLTX.

The Board of Directors also discussed and passed motions regarding the approval of previous meeting minutes as well as discussion and selection of new General Counsel based on Legal RFP review. The board also discussed the SLTX 2021 budget which will be further reviewed at the next BOD meeting.

This is a broad summary of the meeting and not intended to reflect official meeting minutes or detail the scope of any actions taken by the board.  Once minutes are reviewed and approved by the Board, they will be added to the website.

The next Audit & Finance Committee meeting will take place on October 27, 2020, while the Board of Directors meeting will take place on October 28, 2020.

As always, board meetings are available to the public, and information will be posted as they are announced.