Tex. Ins. Code § 826.004
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
A mutual insurance company may not convert to a stock insurance company under this chapter if, as a direct result of the conversion, any affiliate or other person acquires control of the resulting company, unless that affiliate or person complies with Section 823.154.
Tex. Ins. Code § 826.004