Texas Insurance Code

§ 882.056 — APPLICATION FOR CHARTER

IN § 882.056Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 882. MUTUAL LIFE INSURANCE COMPANIES · Art. B. FORMATION AND STRUCTURE OF MUTUAL LIFE INSURANCE COMPANY

Statute text

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(a)To obtain a charter for a mutual life insurance company under this chapter, the incorporators must pay the charter fee in the amount determined under Chapter 202 and file with the department:

(1)an application for charter on the form and including the information prescribed by the commissioner;

(2)the company's articles of incorporation; and

(3)an affidavit made by two or more of the incorporators that states that:

(A)the unencumbered surplus requirements of Section 882.055 are satisfied;

(B)the unencumbered surplus is the bona fide property of the company; and

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.074, eff. April 1, 2009.