Tex. Ins. Code § 882.653

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

Section 882.653 - Conversion Requirements

Except as provided by Section 882. 654, a mutual assessment company or association may convert to a mutual life insurance company only if the company or association:

(1) possesses an unencumbered surplus of at least $1.4 million; and

(2) complies with the requirements of this chapter, including the requirements that the company or association execute articles of incorporation and obtain a charter and a certificate of authority.

Tex. Ins. Code § 882.653

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