Texas Insurance Code

§ 826.202 — COMMISSIONER POWERS AND DUTIES; APPROVAL

IN § 826.202Title 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. E. CONVERSION THROUGH MUTUAL HOLDING COMPANY

Statute text

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(a)The commissioner shall review the proposed plan of reorganization as an alternate conversion plan under Section 826.061. The commissioner may require as a condition of approval modifications of the proposed plan of reorganization that the commissioner determines necessary to protect the members' interests.

(b)The commissioner may retain a qualified expert as provided by Section 826.102(e).

(c)The commissioner has jurisdiction over a mutual holding company organized under this subchapter to ensure that member interests are protected.

Legislative history

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