Tex. Ins. Code § 2551.056 · Subchapter B. FORMATION
REGULATION OF CERTAIN CORPORATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A corporation incorporated under Subdivision 57, Article 1302, Revised Statutes, before February 27, 1929, and engaging in business in this state on February 27, 1929:
(1) may continue to engage in business;
(2) is subject to this title; and
(3) shall comply with the requirements of this title regarding investments and deposits.
(b) A shareholder in a company acting under this title is not liable in the event of default in the payment of any debt or liability of the company beyond the shareholder's subscription for stock.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2551.htm
- Text hash
- sha256 47ab1d6bce3e6b2598e3fd816dee5fddf7ffc1823ac997e88124676de992e0a4
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.