Texas Insurance Code

§ 882.607 — OTHER TYPES OF CONVERSION NOT PROHIBITED

IN § 882.607Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 882. MUTUAL LIFE INSURANCE COMPANIES · Art. M. CONVERSION OF MUTUAL LIFE INSURANCE COMPANY TO STOCK LEGAL RESERVE LIFE INSURANCE COMPANY

Statute text

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This subchapter does not prohibit a mutual life insurance company from converting to a stock legal reserve life insurance company by:

(1)merger or consolidation;

(2)a total direct or assumption reinsurance agreement; or

(3)any other plan or procedure approved by the company's policyholders and the commissioner.

Legislative history

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