Tex. Ins. Code § 826.204 · Subchapter E. CONVERSION THROUGH MUTUAL HOLDING COMPANY
MEMBERSHIP INTERESTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The membership interests of the policyholders of the resulting company become membership interests in the mutual holding company. Eligible members of the converting company become members of the mutual holding company in accordance with the articles of incorporation and bylaws of the mutual holding company.
(b) A membership interest in a mutual holding company does not constitute a security as defined by Section 4001.068, Government Code.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.30, eff. January 1, 2022.
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 3dd71442f64f5e944b5a312528cc8aa748292c40580b7dbdd16b5f23eb710bc7
- 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
This section cites
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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.