Texas Insurance Code

§ 825.054 — POLICYHOLDER ELIGIBILITY

IN § 825.054Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 825. CONVERSION OF STOCK INSURANCE COMPANY TO MUTUAL INSURANCE COMPANY · Art. B. STOCK ACQUISITION PLAN

Statute text

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To be eligible to participate in a policyholders' meeting held to approve a stock acquisition plan, a policyholder must have insurance coverage issued by the converting company that:

(1)is in the amount of at least $1,000;

(2)is in force on the date of the policyholders' meeting; and

(3)has been in force for at least one year before the date of the policyholders' meeting.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.