Tex. Ins. Code Section 825.002
Authority to Convert to Mutual Insurance Company

(a)

A domestic stock insurance company, as defined by law, may convert to a mutual insurance company.

(b)

To convert to a mutual insurance company, a stock insurance company must implement a plan for the acquisition of shares of its capital stock.

(c)

In implementing a stock acquisition plan under this chapter, a converting company may acquire shares of its stock by gift, bequest, or purchase.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 825.002 — Authority to Convert to Mutual Insurance Company, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­825.­htm#825.­002 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 825.002’s source at texas​.gov