Sec. 884.051. FORMATION OF COMPANY. (a) Five or more, but not more than 35, residents of this state may form a stipulated premium company.
(b) To form a stipulated premium company:
(1) each incorporator must sign and acknowledge the articles of incorporation of the company; and
(2) the incorporators must file the articles of incorporation with the department.
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 884 - Stipulated Premium Insurance Companies
Subchapter B. Formation and Structure of Stipulated Premium Insurance Company
Section 884.051. Formation of Company
Section 884.052. Articles of Incorporation
Section 884.053. Company's Name
Section 884.054. Capital Stock and Surplus Requirements
Section 884.055. Shares of Stock
Section 884.056. Application for Charter
Section 884.057. Action by Commissioner and Department After Filing
Section 884.058. Examination After Determination
Section 884.059. Action on Application