Tex. Ins. Code § 828.053 · Subchapter B. EXCEPTION TO INVESTMENT LIMITATION
MINIMUM STOCK ACQUISITION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The purchasing company shall obtain or seek to obtain at least the number of shares of the other insurance company necessary to vote an approval of the total assumption reinsurance agreement under the laws of the state in which the other insurance company is organized by one or more of the following means:
(1) initially purchasing or contracting to purchase the shares; or
(2) offering to purchase, making a tender offer for, requesting or inviting tenders of, or otherwise seeking to acquire the shares in the open market or otherwise.
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.828.htm
- Text hash
- sha256 39aa4b47c978d2216dfc46913b54cc780e61993fcea8bc9d0b874f749bb61e54
- 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.