Tex. Insurance Code § 824.052
EFFECTIVE DATE OF CONSOLIDATION
Texas · Texas Insurance Code · Status: effective
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- Tex. Insurance Code § 824.052, EFFECTIVE DATE OF CONSOLIDATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679122
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Full text
(a) A new insurance corporation resulting from a plan of consolidation shall be issued a charter and a certificate of authority on:
(1) submission of proper articles of incorporation to the commissioner;
(2) approval by the commissioner in accordance with the procedures required for the issuance of a new charter; and
(3) submission of proof that the new corporation has capital and surplus at least equal to that of the corporation that is a party to the consolidation and has the largest capital and surplus.
(b) A consolidation takes effect on the date of issuance of the charter and certificate of authority under Subsection (a).