Sec. 826.003. RIGHTS AND PRIVILEGES OF RESULTING COMPANY; LAWS APPLICABLE. Except as provided by this chapter, a resulting company:
(1) may exercise only the rights and privileges of a stock insurance company; and
(2) is subject to:
(A) all of the requirements and rules imposed on stock insurance companies organized under this code; and
(B) the laws of this state relating to the regulation or supervision of insurance companies.
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 826 - Conversion of Mutual Insurance Company to Stock Insurance Company
Subchapter A. General Provisions
Section 826.002. Authority to Convert to Stock Insurance Company
Section 826.003. Rights and Privileges of Resulting Company; Laws Applicable