APPLICATION FOR PERMIT TO SOLICIT INSURANCE

(a) At least 10 residents described by Section 911.054(a) that want to form a farm mutual insurance company may apply to the department for a permit to solicit insurance on the mutual or cooperative plan. (b) The application for a permit to solicit insurance must: (1) state: (A) that at least 100 individuals are members of an association described by Section 911.053(b)(1); (B) that the association has indicated, by majority vote, that the association wants to: (i) insure property of the association's members under this chapter; and (ii) be chartered as a farm mutual insurance company; (C) the name of the company, which must include the words "Farm Mutual" or "Farmers Mutual"; (D) the location of the company's principal office; (E) the risks the company proposes to insure; and (F) the names and places of residence of at least 10 of the applicants; and (2) be accompanied by: (A) affidavits of at least two of the applicants, each of whom must: (i) state the applicant's name and residence; and (ii) verify the facts stated in the application; and (B) a filing fee in the amount of $25.