Tex. Ins. Code § 882.565

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 882.565 - Effect of Merger or Consolidation on Divisible Surplus
(a) This section applies only to a mutual life insurance company that is a new company or the surviving company resulting from a merger or consolidation under this subchapter.
(b) If the divisible surplus of each domestic mutual life insurance company that is a party to a merger or consolidation under this subchapter was available for allocation to policyholders as provided by Subchapter H immediately before the effective date of the merger or consolidation, the divisible surplus remains available to the policyholders of the new or surviving mutual life insurance company resulting from the merger or consolidation as provided by Subchapter H.

Tex. Ins. Code § 882.565

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.