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Tex. Insurance Code § 829.152

MEMBERSHIP INTERESTS

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 829.152, MEMBERSHIP INTERESTS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679238
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(a) The membership interests of the policyholders of the resulting company become membership interests in the mutual holding company. Members of the converting exchange become members of the mutual holding company in accordance with the articles of incorporation and bylaws of the mutual holding company. (b) A membership interest in a mutual holding company does not constitute a security as defined by Section 4001.068, Government Code.