Sec. 829.003. RIGHTS AND PRIVILEGES OF RESULTING COMPANY; LAWS APPLICABLE. Except as provided by this chapter, the 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 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