Tex. Ins. Code § 829.054

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

Section 829.054 - Subscription Rights; Tax-Qualified Employee Benefit Plan

The conversion plan may allocate to a tax-qualified employee benefit plan nontransferable subscription rights to purchase not more than 10 percent of the capital stock of the resulting company.

Tex. Ins. Code § 829.054

Added by Acts 2007, 80th Leg., R.S., Ch. 412, Sec. 1, eff. 6/15/2007.