Tex. Ins. Code § 829.107 · Subchapter C. PLAN ADOPTION AND APPROVAL
APPROVAL OF PLAN BY ELIGIBLE MEMBERS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) After notice that complies with this chapter, the converting exchange may convene a meeting to consider the conversion plan, and any eligible member entitled to vote on the proposed conversion plan may vote in person or by proxy at the meeting. Except as otherwise provided in the bylaws of the converting exchange, each eligible member may cast one vote.
(b) Adoption of the conversion plan requires the affirmative vote of at least two-thirds of the votes cast by eligible members.
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 04a434acf4e4f01c917908679c9f5669ee4bfbf9937c5c7721a88080b57ea54f
- 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
Cited by 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 829.107. Each shows the citation as that text prints it.
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.