Tex. Insurance Code § 887.155
TRANSFER OF MEMBERSHIP OR MERGER OF CLASSES
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 887.155, TRANSFER OF MEMBERSHIP OR MERGER OF CLASSES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680245
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Full text
(a) Without advance approval of the department, an association may not:
(1) transfer any part or class of membership or all membership to another association; or
(2) merge classes or transfer a member from one class to another in the association.
(b) The department may grant approval under Subsection (a) only after the department:
(1) completely investigates the facts; and
(2) determines that the proposed merger or transfer is to the advantage of the members or classes affected by the merger or transfer.