Sec. 882.605. CONVERSION ON COMMISSIONER APPROVAL. A mutual life insurance company is converted to a stock legal reserve life insurance company if:
(1) the company complies with this subchapter; and
(2) after hearing, the conversion is approved by the commissioner.
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
Section 882.602. Amendment to Charter or Articles of Incorporation Required
Section 882.603. Capital and Surplus Requirements
Section 882.605. Conversion on Commissioner Approval