Tex. Ins. Code § 824.101 · Subchapter C. EFFECT OF MERGER OR CONSOLIDATION
EFFECT OF MERGER OR CONSOLIDATION ON OUTSTANDING INSURANCE POLICIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A new or surviving corporation resulting from a merger or consolidation shall assume each insurance policy outstanding against each insurance corporation that merges or consolidates on the same terms and under the same conditions as if the policy had continued in force through the original corporation.
(b) The new or surviving insurance corporation shall implement the terms of the policy.
(c) The new or surviving insurance corporation is entitled to:
(1) all rights and privileges under the policy; and
(2) all reserves that accumulated on the policy before the merger or consolidation.
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 76944ad83cecbb6b502373977862c121170f67389a19f9ce707310a34b844077
- 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 § 824.101. 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.