Tex. Ins. Code § 829.004 · Subchapter A. GENERAL PROVISIONS
MUTUAL HOLDING COMPANY; LAWS APPLICABLE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by this chapter, a mutual holding company is considered an insurer subject to this chapter and Chapter 883.
(b) The commissioner has jurisdiction over a mutual holding company organized under this chapter to ensure that member interests are protected.
(c) The mutual holding company is automatically a party to a delinquency proceeding under Subtitle C, Title 4, involving an insurance company that, as a result of a reorganization under this chapter, is a direct or indirect subsidiary of the mutual holding company. In any proceeding described by this subsection 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.
(d) A mutual holding company that results from a reorganization of an exchange must be organized under Sections 883.051, 883.052, 883.054, and 883.056. The articles of incorporation of the mutual holding company, and any amendments to those articles, are subject to approval of the commissioner in the same manner as those of a mutual insurance company.
(e) The mutual holding company may not dissolve or liquidate without the approval of the commissioner.
(f) A mutual holding company formed under a conversion plan is not subject to:
(1) Article 2.11B, Texas Non-Profit Corporation Act (Article 1396-2.11B, Vernon's Texas Civil Statutes);
(2) Section B, Article 2.23, Texas Non-Profit Corporation Act (Article 1396-2.23, Vernon's Texas Civil Statutes);
(3) Section C, Article 2.23A, Texas Non-Profit Corporation Act (Article 1396-2.23A, Vernon's Texas Civil Statutes); or
(4) Sections 22.158, 22.351, and 22.353(b), Business Organizations Code.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.829.htm
- Text hash
- sha256 7a44abe38a96b06129d79dc7a4ffd9fa944d3f513112b2f6a4180827d4e16991
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Business Organizations Code
- Tex. Bus. Orgs. Code § 22.158PREPARATION AND INSPECTION OF LIST OF VOTING MEMBERS.Printed as Sections 22.158, 22.351, and 22.353(b), Business Organizations Code
- Tex. Bus. Orgs. Code § 22.351MEMBER'S RIGHT TO INSPECT BOOKS AND RECORDS.Printed as Sections 22.158, 22.351, and 22.353(b), Business Organizations Code
- Tex. Bus. Orgs. Code § 22.353AVAILABILITY OF FINANCIAL INFORMATION FOR PUBLIC INSPECTION.Printed as Sections 22.158, 22.351, and 22.353(b), Business Organizations Code
Insurance Code
- Tex. Ins. Code tit. 4REGULATION OF SOLVENCYPrinted as Title 4
- Tex. Ins. Code § 883.051FORMATION OF COMPANY.Printed as Sections 883.051, 883.052, 883.054, and 883.056
- Tex. Ins. Code § 883.052ARTICLES OF INCORPORATION.Printed as Sections 883.051, 883.052, 883.054, and 883.056
- Tex. Ins. Code § 883.054LOCATION OF PRINCIPAL OR HOME OFFICE.Printed as Sections 883.051, 883.052, 883.054, and 883.056
- Tex. Ins. Code § 883.056BOARD OF DIRECTORS.Printed as Sections 883.051, 883.052, 883.054, and 883.056
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.