Tex. Insurance Code § 884.204
COMPANY'S REPURCHASE OF STOCK
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 884.204, COMPANY'S REPURCHASE OF STOCK, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679993
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Full text
(a) Subject to Section 884.202, a stipulated premium company may purchase in the name of the company outstanding shares of the company's capital stock as provided by the Texas Business Corporation Act.
(b) A purchase of stock under this section is not considered an investment and does not violate the provisions of this code relating to eligible investments for a stipulated premium company.
(c) A stipulated premium company that purchases stock under this section shall file with the department not later than the 10th day after the date of the purchase a statement that contains the name of each shareholder from whom the shares were purchased and the sum of money paid for those shares.