Tex. Insurance Code § 824.151
PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 824.151, PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679130
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Full text
(a) A life insurance corporation may purchase or contract to purchase all or part of the outstanding shares of another life insurance corporation for purposes of merger or consolidation.
(b) Except as provided by Section 824.152, the provisions of Subchapter D, Chapter 425, that limit investments in the corporate stock of another corporation do not apply to a purchase made under this section.