Tex. Ins. Code § 826.201 · Subchapter E. CONVERSION THROUGH MUTUAL HOLDING COMPANY
CONVERSION THROUGH CREATION OF HOLDING COMPANY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A converting company, on approval by the commissioner, may reorganize by forming a holding company based on a mutual plan and continuing the corporate existence of the converting company as a stock insurance company.
(b) A mutual holding company is considered an insurer subject to this chapter and Chapter 883. A mutual holding company is automatically a party to an administrative proceeding under this code involving an insurance company that, as a result of a reorganization under this subchapter, is a subsidiary of the mutual holding company. In any proceeding involving the resulting company, the assets of the mutual holding company are considered assets of the resulting company for purposes of satisfying the claims of the resulting company's policyholders.
(c) A mutual holding company may not dissolve or liquidate without the approval of the commissioner.
(d) A mutual holding company may convert to a stock holding company under this chapter as if the mutual holding company were a mutual insurance company.
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.826.htm
- Text hash
- sha256 64706b46d972bf7ef60e44606b454ac68ae1708dc91f60b8824774f729566dce
- 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.