Sec. 825.054. POLICYHOLDER ELIGIBILITY. To be eligible to participate in a policyholders' meeting held to approve a stock acquisition plan, a policyholder must have insurance coverage issued by the converting company that:
(1) is in the amount of at least $1,000;
(2) is in force on the date of the policyholders' meeting; and
(3) has been in force for at least one year before the date of the policyholders' meeting.
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 825 - Conversion of Stock Insurance Company to Mutual Insurance Company
Subchapter B. Stock Acquisition Plan
Section 825.051. Contents of Stock Acquisition Plan
Section 825.052. Sufficient Assets Required
Section 825.053. Stock Acquisition Plan Approval
Section 825.054. Policyholder Eligibility