Section 861.153 - Authorized Shares(a) A general casualty company may increase or decrease its capital stock after: (1) the intent to increase the stock is ratified by a two-thirds vote of the shareholders or the intent to decrease the stock is ratified by a majority vote of the shareholders; and(2) notice of the intent to increase or decrease the stock is published in a newspaper of general circulation for five consecutive days.(b) An increase in capital stock must be equal to an amount of at least $50,000.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.