Tex. Ins. Code § 881.051

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

Section 881.051 - Authority to Act As Statewide Mutual Assessment Company

A corporation may engage in business as a statewide mutual assessment company only if the corporation:

(1) was incorporated in this state under a law that was amended, repealed, or reenacted before June 20, 1933;

(2) was engaged in business as a statewide mutual assessment company in this state on December 31, 1932;

(3) does not have capital stock; and

(4) is not for profit.

Tex. Ins. Code § 881.051

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.