Tex. Ins. Code § 887.452
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
An association's board of directors may determine by majority vote to submit a proposed conversion or reinsurance under Section 887.451 to the members of the association. Before the proposed conversion or reinsurance may be submitted to the members, the board must prepare detailed plans for the conversion or reinsurance and submit the plans to the commissioner.
Tex. Ins. Code § 887.452