Sec. 884.052. ARTICLES OF INCORPORATION. (a) Articles of incorporation of a stipulated premium company must specify:
(1) the name and place of residence of each incorporator;
(2) the name of the proposed stipulated premium company;
(3) the location of the proposed company's home office;
(4) the kinds of insurance business the proposed company will transact;
(5) the amount of the proposed company's capital stock;
(6) the number of shares of the proposed company's capital stock; and
(7) the period of the proposed company's duration, which may not exceed 500 years.
(b) The incorporators of a stipulated premium company may include other provisions in the articles of incorporation.
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