Texas Insurance Code

§ 882.559 — FILING OF AFFIDAVIT OF PLAN APPROVAL; ISSUANCE OF CERTIFICATE OF MERGER OR CONSOLIDATION

IN § 882.559Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 882. MUTUAL LIFE INSURANCE COMPANIES · Art. L. MERGERS AND CONSOLIDATIONS

Statute text

View on source

(a)On the approval of a proposed plan under Section 882.556, 882.557, or 882.558, the president or a vice president and the secretary or an assistant secretary of each company that is a party to the plan shall execute and file with the department an affidavit stating that the plan has been approved by the policyholders or shareholders of the company as required by this subchapter.

(b)If the department finds that the affidavit complies with law, the department shall:

(1)endorse the affidavit with:

(A)the word "filed"; and

(B)the date of filing;

(2)if the plan is a plan of merger, issue a certificate of merger to the surviving company or the company's representative; and

…

Legislative history

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