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Tex. Insurance Code § 882.653

CONVERSION REQUIREMENTS

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 882.653, CONVERSION REQUIREMENTS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679903
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Except as provided by Section 882. 654, a mutual assessment company or association may convert to a mutual life insurance company only if the company or association: (1) possesses an unencumbered surplus of at least $1.4 million; and (2) complies with the requirements of this chapter, including the requirements that the company or association execute articles of incorporation and obtain a charter and a certificate of authority.