Tex. Insurance Code § 825.002
AUTHORITY TO CONVERT TO MUTUAL INSURANCE COMPANY
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 825.002, AUTHORITY TO CONVERT TO MUTUAL INSURANCE COMPANY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679135
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Full text
(a) A domestic stock insurance company, as defined by law, may convert to a mutual insurance company.
(b) To convert to a mutual insurance company, a stock insurance company must implement a plan for the acquisition of shares of its capital stock.
(c) In implementing a stock acquisition plan under this chapter, a converting company may acquire shares of its stock by gift, bequest, or purchase.