Tex. Ins. Code § 826.152
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
A converting company, by endorsement or rider approved by the commissioner and sent to the policyholder, may simultaneously with or at any time after the adoption of a conversion plan amend an insurance policy in effect to terminate a right of the holder of the policy to share in the surplus or profits of the converting company. The amendment is void if the conversion plan does not take effect.
Tex. Ins. Code § 826.152