Tex. Ins. Code § 824.052 · Subchapter B. EFFECTIVE DATE OF MERGER OR CONSOLIDATION
EFFECTIVE DATE OF CONSOLIDATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A new insurance corporation resulting from a plan of consolidation shall be issued a charter and a certificate of authority on:
(1) submission of proper articles of incorporation to the commissioner;
(2) approval by the commissioner in accordance with the procedures required for the issuance of a new charter; and
(3) submission of proof that the new corporation has capital and surplus at least equal to that of the corporation that is a party to the consolidation and has the largest capital and surplus.
(b) A consolidation takes effect on the date of issuance of the charter and certificate of authority under Subsection (a).
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.824.htm
- Text hash
- sha256 8255593d38e4c232f5cae234434c3fafd371852779f98deab91450cfa0b3bcbb
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 824.052. Each shows the citation as that text prints it.
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.