Tex. Ins. Code § 883.051 · Subchapter B. FORMATION, STRUCTURE, AND MANAGEMENT OF COMPANY
FORMATION OF COMPANY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Twenty or more persons, a majority of whom are residents of this state, may incorporate in accordance with this chapter to engage in the business of mutual insurance as provided by this chapter.
(b) To form a mutual insurance company, each incorporator must sign and acknowledge the articles of incorporation of the company.
(c) The incorporators of a proposed mutual insurance company are subject to Sections 822.001, 822.051, 822.057(a)(1)-(3), (b), and (c), 822.058(a), 822.059, 822.060, and 822.201, except that:
(1) the minimum number of persons required to adopt and sign the proposed company's articles of incorporation under Section 822.051 is equal to the number of the proposed company's incorporators as provided by Subsection (a); and
(2) the unencumbered surplus of the mutual insurance company is capital structure for purposes of Section 822.201.
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.883.htm
- Text hash
- sha256 898d1457bf97794fd0115a794eccae00795ee118b95e67ff27d85cdb41d126ea
- 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.
Insurance Code
- Tex. Ins. Code § 822.001APPLICABILITY OF CHAPTER.Printed as Sections 822.001, 822.051, 822.057(a)(1)
- Tex. Ins. Code § 822.051FORMATION OF COMPANY.Printed as Section 822.051 | Sections 822.001, 822.051, 822.057(a)(1)
- Tex. Ins. Code § 822.057APPLICATION FOR CHARTER.Printed as Sections 822.001, 822.051, 822.057(a)(1)
- Tex. Ins. Code § 822.201APPLICABILITY OF CAPITAL AND SURPLUS REQUIREMENTS.Printed as Section 822.201
Cited by 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 883.051. 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.