Texas Insurance Code
§ 829.002 — AUTHORITY TO CONVERT THROUGH CREATION OF A MUTUAL HOLDING COMPANY
IN § 829.002Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 829. CONVERSION OF RECIPROCAL OR INTERINSURANCE EXCHANGE TO STOCK COMPANY THROUGH CREATION OF A MUTUAL HOLDING COMPANY · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)An exchange may reorganize by converting to a stock insurance company and forming a mutual holding company to hold, directly or indirectly, shares of the resulting company or intermediate holding company in accordance with this chapter.
(b)A converting exchange may not engage in the business of insurance as a stock insurance company until it complies with the requirements of this chapter.
Legislative history
Added by Acts 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.