Sec. 882.052. FORMATION OF COMPANY; ARTICLES OF INCORPORATION. (a) Nine or more persons who are residents of this state may form a mutual life insurance company by executing and acknowledging articles of incorporation for that purpose.
(b) The articles of incorporation of the proposed company must state:
(1) the name and residence of each incorporator;
(2) the name of the company;
(3) the location of the company's principal office at which company business is to be transacted;
(4) the number of directors;
(5) the name and residence of each initial director; and
(6) the amount of the company's unencumbered surplus.
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 E - Mutual and Fraternal Companies and Related Entities
Chapter 882 - Mutual Life Insurance Companies
Subchapter B. Formation and Structure of Mutual Life Insurance Company
Section 882.051. Authority to Form Company; Purpose
Section 882.052. Formation of Company; Articles of Incorporation
Section 882.053. Company's Name
Section 882.054. Initial Board of Directors; Term
Section 882.055. Unencumbered Surplus Requirements
Section 882.056. Application for Charter
Section 882.057. Application Process