Tex. Ins. Code § 825.002 · Subchapter A. GENERAL PROVISIONS
AUTHORITY TO CONVERT TO MUTUAL INSURANCE COMPANY.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A domestic stock insurance company, as defined by law, may convert to a mutual insurance company.
(b) To convert to a mutual insurance company, a stock insurance company must implement a plan for the acquisition of shares of its capital stock.
(c) In implementing a stock acquisition plan under this chapter, a converting company may acquire shares of its stock by gift, bequest, or purchase.
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.825.htm
- Text hash
- sha256 0888231ffd53af07c4f8d3135802987591a726641019d5345bffb6149bc81096
- 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.