Sec. 829.102. AMENDMENTS; WITHDRAWAL OF PLAN. Before a conversion plan takes effect, a converting exchange may amend or withdraw the plan by the affirmative vote of at least two-thirds of the members of its board of directors or, if the exchange does not have a board of directors, by approval of the attorney in fact. The written consent of the commissioner is required for any amendment to a conversion plan adopted after the commissioner has approved the plan under Section 829.106.
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 C. Plan Adoption and Approval
Section 829.101. Plan Adoption
Section 829.102. Amendments; Withdrawal of Plan
Section 829.104. Notice to Eligible Members; Comments
Section 829.105. Substantial Compliance With Notice Requirements
Section 829.106. Approval of Plan by Commissioner