Tex. Ins. Code § 912.061 · Subchapter B. ORGANIZATION OF COUNTY MUTUAL INSURANCE COMPANY; DIRECTORS
APPLICATION FOR EXTENSION OF CHARTER; TERM.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Before a county mutual insurance company's charter or extension of the charter expires, the company may apply to the department for an extension of the charter for a term of 50 years from the date the charter would otherwise expire.
(b) The application for an extension must:
(1) demonstrate that the application was authorized either by a two-thirds vote of the company's directors or by a majority vote at a policyholders' meeting;
(2) state in full the charter to be extended;
(3) state the period for which the charter is to be extended;
(4) be signed and acknowledged by the president and secretary of the company; and
(5) be accompanied by a fee of $50.
(c) A company whose charter is extended retains the rights, privileges, and immunities granted a county mutual insurance company by this chapter.
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.912.htm
- Text hash
- sha256 1bf80172c2dbb2f595a73b5e361f754c945290c997f32a839142521edf5a759b
- 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.