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Tex. Insurance Code § 887.502

AUTHORIZATION TO CONVERT

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 887.502, AUTHORIZATION TO CONVERT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680303
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An association may convert to a stock legal reserve life insurance company if the association: (1) has at least $100,000 in the association's mortuary fund at the time of conversion; and (2) except as provided by Section 887.508, possesses: (A) capital in an amount equal to at least $700,000 cash; and (B) surplus in an amount equal to at least $700,000 cash.