Tex. Ins. Code § 882.751

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 882.751 - Authority to Convert

A mutual life insurance company organized or operating under this chapter may convert by forming an insurance holding company based on a mutual plan and continuing the corporate existence of the converting mutual life insurance company as a stock life insurance company if the commissioner:

(1) determines that the conversion is fair and equitable to the policyholders of the converting company; and

(2) approves the proposed plan of conversion.

Tex. Ins. Code § 882.751

Added by Acts 2005, 79th Leg., Ch. 82, Sec. 1, eff. 9/1/2005.