Sec. 823.162. PROHIBITION ON CERTAIN ACTIONS RELATED TO ACQUISITION OF CONTROL OR MERGER. A person may not effect or attempt to effect an acquisition of control of or merger with a domestic insurer unless the commissioner has approved the acquisition or merger.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle B - Organization of Regulated Entities
Chapter 823 - Insurance Holding Company Systems
Subchapter D. Control of Domestic Insurer; Acquisition or Merger
Section 823.151. Presumption of Control
Section 823.152. Employment of Experts
Section 823.153. Controller of Domestic Insurer Considered Domestic Insurer
Section 823.155. Amendment of Statement
Section 823.156. Notice Expenses
Section 823.157. Approval of Acquisition, Change, or Divestiture of Control
Section 823.159. Hearing; Time of Determination
Section 823.160. Deadline for Completion of Acquisition
Section 823.161. Insurer's Duty to Notify
Section 823.162. Prohibition on Certain Actions Related to Acquisition of Control or Merger
Section 823.163. Retention of Control