Tex. Insurance Code § 887.510
INCREASE OF CAPITAL AND SURPLUS REQUIRED
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 887.510, INCREASE OF CAPITAL AND SURPLUS REQUIRED, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680311
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Full text
(a) An association that converts to a stock legal reserve life insurance company under this subchapter shall, not later than the 10th anniversary of the date of conversion, increase its capital and surplus to the minimum capital and surplus required for a stock legal reserve life insurance company organized under Chapter 841.
(b) The commissioner shall revoke a converted association's certificate of authority to engage in the business of insurance if the association does not comply with Subsection (a).