Texas Statutes
Subtitle B - Organization of Regulated Entities
Chapter 826 - Conversion of Mutual Insurance Company to Stock Insurance Company

Subchapter A. General Provisions

Section 826.001. Definitions - Sec. 826.001. DEFINITIONS. In this chapter: (1) "Conversion plan" means...

Section 826.002. Authority to Convert to Stock Insurance Company - Sec. 826.002. AUTHORITY TO CONVERT TO STOCK INSURANCE COMPANY. (a)...

Section 826.003. Rights and Privileges of Resulting Company; Laws Applicable - Sec. 826.003. RIGHTS AND PRIVILEGES OF RESULTING COMPANY; LAWS APPLICABLE....

Section 826.004. Certain Conversions Prohibited - Sec. 826.004. CERTAIN CONVERSIONS PROHIBITED. A mutual insurance company may...

Section 826.005. Corporate Existence - Sec. 826.005. CORPORATE EXISTENCE. (a) On the effective date of...

Subchapter B. Conversion Plan Adoption and Requirements

Section 826.051. Plan Adoption - Sec. 826.051. PLAN ADOPTION. (a) To convert to a stock...

Section 826.052. General Requirements; Effect of Conversion on Policies - Sec. 826.052. GENERAL REQUIREMENTS; EFFECT OF CONVERSION ON POLICIES. (a)...

Section 826.053. Sale of Capital Stock - Sec. 826.053. SALE OF CAPITAL STOCK. A conversion plan must...

Section 826.054. Purchase Price of Capital Stock - Sec. 826.054. PURCHASE PRICE OF CAPITAL STOCK. (a) A conversion...

Section 826.055. Limitation on Acquisition of Capital Stock - Sec. 826.055. LIMITATION ON ACQUISITION OF CAPITAL STOCK. (a) The...

Section 826.056. Directors and Officers - Sec. 826.056. DIRECTORS AND OFFICERS. (a) Except as otherwise provided...

Section 826.057. Rights of Holder of Surplus Notes - Sec. 826.057. RIGHTS OF HOLDER OF SURPLUS NOTES. A conversion...

Section 826.058. Subscription Rights; General Provisions - Sec. 826.058. SUBSCRIPTION RIGHTS; GENERAL PROVISIONS. (a) Except for an...

Section 826.059. Subscription Rights; Tax-Qualified Employee Benefit Plan - Sec. 826.059. SUBSCRIPTION RIGHTS; TAX-QUALIFIED EMPLOYEE BENEFIT PLAN. The conversion...

Section 826.060. Liquidation Account - Sec. 826.060. LIQUIDATION ACCOUNT. (a) The conversion plan may provide...

Section 826.061. Alternate Conversion Plan - Sec. 826.061. ALTERNATE CONVERSION PLAN. (a) The board of directors...

Subchapter C. Adoption of Conversion Plan

Section 826.101. Plan Information Filed With Commissioner; Commissioner Powers and Duties - Sec. 826.101. PLAN INFORMATION FILED WITH COMMISSIONER; COMMISSIONER POWERS AND...

Section 826.102. Approval of Plan by Commissioner - Sec. 826.102. APPROVAL OF PLAN BY COMMISSIONER. (a) The commissioner...

Section 826.103. Amendments; Withdrawal of Plan - Sec. 826.103. AMENDMENTS; WITHDRAWAL OF PLAN. Before a conversion plan...

Section 826.104. Notice to Eligible Members; Comments - Sec. 826.104. NOTICE TO ELIGIBLE MEMBERS; COMMENTS. (a) Not later...

Section 826.105. Substantial Compliance With Notice Requirements - Sec. 826.105. SUBSTANTIAL COMPLIANCE WITH NOTICE REQUIREMENTS. If the converting...

Section 826.106. Insolvent Converting Company; Notice Requirements - Sec. 826.106. INSOLVENT CONVERTING COMPANY; NOTICE REQUIREMENTS. If a converting...

Section 826.108. Filing of Minutes, Articles of Incorporation, and Bylaws; Effective Date of Conversion - Sec. 826.108. FILING OF MINUTES, ARTICLES OF INCORPORATION, AND BYLAWS;...

Section 826.109. Conflict of Interest - Sec. 826.109. CONFLICT OF INTEREST. (a) Except as provided by...

Section 826.110. Limitation on Actions - Sec. 826.110. LIMITATION ON ACTIONS. An action challenging the validity...

Subchapter D. Rights of Members on Conversion

Section 826.151. Rights of Members Whose Policies Are Issued After Adoption of Conversion Plan but Before Effective Date - Sec. 826.151. RIGHTS OF MEMBERS WHOSE POLICIES ARE ISSUED AFTER...

Section 826.152. Amendment of Policies - Sec. 826.152. AMENDMENT OF POLICIES. A converting company, by endorsement...

Subchapter E. Conversion Through Mutual Holding Company

Section 826.201. Conversion Through Creation of Holding Company - Sec. 826.201. CONVERSION THROUGH CREATION OF HOLDING COMPANY. (a) A...

Section 826.202. Commissioner Powers and Duties; Approval - Sec. 826.202. COMMISSIONER POWERS AND DUTIES; APPROVAL. (a) The commissioner...

Section 826.203. Applicability of Certain Laws; Incorporation - Sec. 826.203. APPLICABILITY OF CERTAIN LAWS; INCORPORATION. A mutual holding...

Section 826.204. Membership Interests - Sec. 826.204. MEMBERSHIP INTERESTS. (a) The membership interests of the...

Section 826.205. Capital Stock Held by Mutual Holding Company - Sec. 826.205. CAPITAL STOCK HELD BY MUTUAL HOLDING COMPANY. (a)...

Section 826.206. Conversion of Foreign Mutual Insurance Company - Sec. 826.206. CONVERSION OF FOREIGN MUTUAL INSURANCE COMPANY. (a) On...