Tex. Ins. Code § 829.152 · Subchapter D. EFFECT OF PLAN; RIGHTS OF MEMBERS
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. Members of the converting exchange 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 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.32, 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.829.htm
- Text hash
- sha256 783ab2e391357b886f9a5a38a8b0e8d14cbc31dda22f9a3c739eb681f29b62f1
- 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.