Tex. Insurance Code § 824.003
PROPOSED PLAN OF MERGER OR CONSOLIDATION; APPROVAL OF DIRECTORS AND SHAREHOLDERS
Texas · Texas Insurance Code · Status: effective
Cite this
- Citation
- Tex. Insurance Code § 824.003, PROPOSED PLAN OF MERGER OR CONSOLIDATION; APPROVAL OF DIRECTORS AND SHAREHOLDERS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679117
- Permanent ID
ys:prov:679117@1- SHA-256
ef551aa509da267bbd5efd682487e4d43b64a1c024584c3e590f033e45ff790e
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) A proposed plan of merger or consolidation must be approved by the boards of directors of the corporations that are parties to the merger or consolidation.
(b) After approval by the boards of directors, the proposed plan shall be submitted for approval to the shareholders of each corporation that is a party to the plan at a separate regular or special meeting of the shareholders called in the manner provided by the bylaws of the respective corporations.
(c) A plan is approved on the affirmative vote of the holders of two-thirds of the shares of the capital stock of each corporation that is a party to the plan.