Texas Insurance Code

§ 884.602 — ASSUMPTION CERTIFICATE

IN § 884.602Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 884. STIPULATED PREMIUM INSURANCE COMPANIES · Art. M. CONVERSION TO LEGAL RESERVE COMPANY

Statute text

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(a)Not later than the 30th day after the date of a conversion under this subchapter, the converted company shall issue to each policyholder an assumption certificate by which the policy liability is assumed by the converted company.

(b)The certificate must contain all of the provisions applicable to a policy issued by a company operating under Chapter 841.

Legislative history

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