Texas Insurance Code

§ 826.003 — RIGHTS AND PRIVILEGES OF RESULTING COMPANY; LAWS APPLICABLE

IN § 826.003Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 826. CONVERSION OF MUTUAL INSURANCE COMPANY TO STOCK INSURANCE COMPANY · Art. A. GENERAL PROVISIONS

Statute text

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Except as provided by this chapter, a resulting company:

(1)may exercise only the rights and privileges of a stock insurance company; and

(2)is subject to:

(A)all of the requirements and rules imposed on stock insurance companies organized under this code; and

(B)the laws of this state relating to the regulation or supervision of insurance companies.

Legislative history

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