Texas Statutes
§ 4001.305 — TRANSFER OF INTEREST IN AGENCY BY SHAREHOLDER OF CORPORATE AGENCY.
Texas § 4001.305
JurisdictionTexas
Code INInsurance Code
This text of Texas § 4001.305 (TRANSFER OF INTEREST IN AGENCY BY SHAREHOLDER OF CORPORATE AGENCY.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tex. Insurance Code Code Ann. § 4001.305 (2026).
Text
Sec. 4001.305. TRANSFER OF INTEREST IN AGENCY BY SHAREHOLDER OF CORPORATE AGENCY.
(a)A shareholder of a corporate licensed agency may, if provided by a contract entered into by each shareholder and the corporation, transfer an interest in the agency to the shareholder's children or a trust for the shareholder's children. The children or trust may share in the profits of the agency to the extent of that interest during the children's lifetime.
(b)The children or trust is not required to qualify as an agent to share in the profits of the corporation but may not perform an act of an agent on behalf of the corporation without qualifying as an agent.
SUBCHAPTER H. PROVISIONAL PERMIT
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Legislative History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Nearby Sections
15
§ 4001.001
PURPOSE.§ 4001.002
APPLICABILITY.§ 4001.003
DEFINITIONS.§ 4001.004
LIMITED LIABILITY COMPANIES.§ 4001.005
RULES.§ 4001.006
FEES.§ 4001.007
INVESTIGATION OF ALLEGED VIOLATIONS.§ 4001.051
ACTS CONSTITUTING ACTING AS AGENT.§ 4001.053
PERSONAL LIABILITY FOR ACTING AS AGENT.§ 4001.102
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Bluebook (online)
Texas § 4001.305, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/IN/4001.305.