Texas Insurance Code
§ 881.051 — AUTHORITY TO ACT AS STATEWIDE MUTUAL ASSESSMENT COMPANY
IN § 881.051Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 881. STATEWIDE MUTUAL ASSESSMENT COMPANIES · Art. B. STRUCTURE AND OPERATION OF STATEWIDE MUTUAL ASSESSMENT COMPANIES
Statute text
View on sourceA corporation may engage in business as a statewide mutual assessment company only if the corporation:
(1)was incorporated in this state under a law that was amended, repealed, or reenacted before June 20, 1933;
(2)was engaged in business as a statewide mutual assessment company in this state on December 31, 1932;
(3)does not have capital stock; and
(4)is not for profit.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.