Texas Insurance Code

§ 861.054 — SUBSCRIPTION OF STOCK

IN § 861.054Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part D. CASUALTY COMPANIES · Ch. 861. GENERAL CASUALTY COMPANIES · Art. B. FORMATION AND STRUCTURE OF GENERAL CASUALTY COMPANY

Statute text

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The incorporators shall:

(1)open books for the subscription of stock in the general casualty company at the times and places the incorporators consider convenient and proper; and

(2)keep the books open until the full amount specified in the articles of incorporation is subscribed.

Legislative history

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