Sec. 829.002. AUTHORITY TO CONVERT THROUGH CREATION OF A MUTUAL HOLDING COMPANY. (a) An exchange may reorganize by converting to a stock insurance company and forming a mutual holding company to hold, directly or indirectly, shares of the resulting company or intermediate holding company in accordance with this chapter.
(b) A converting exchange may not engage in the business of insurance as a stock insurance company until it complies with the requirements of this chapter.
Added by Acts 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle B - Organization of Regulated Entities
Subchapter A. General Provisions
Section 829.002. Authority to Convert Through Creation of a Mutual Holding Company
Section 829.003. Rights and Privileges of Resulting Company; Laws Applicable
Section 829.004. Mutual Holding Company; Laws Applicable
Section 829.005. Conflict of Interest