Texas § 824.101 EFFECT OF MERGER OR CONSOLIDATION ON OUTSTANDING INSURANCE POLICIES.

Texas Statutes

§ 824.101 — EFFECT OF MERGER OR CONSOLIDATION ON OUTSTANDING INSURANCE POLICIES.

Texas § 824.101

Code INInsurance Code

This text of Texas § 824.101 (EFFECT OF MERGER OR CONSOLIDATION ON OUTSTANDING INSURANCE POLICIES.) 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. § 824.101 (2026).

Text

Sec. 824.101. EFFECT OF MERGER OR CONSOLIDATION ON OUTSTANDING INSURANCE POLICIES.

(a)A new or surviving corporation resulting from a merger or consolidation shall assume each insurance policy outstanding against each insurance corporation that merges or consolidates on the same terms and under the same conditions as if the policy had continued in force through the original corporation.

(b)The new or surviving insurance corporation shall implement the terms of the policy.

(c)The new or surviving insurance corporation is entitled to:

(1)all rights and privileges under the policy; and

(2)all reserves that accumulated on the policy before the merger or consolidation.

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Sec. 824.101. EFFECT OF MERGER OR CONSOLIDATION ON OUTSTANDING INSURANCE POLICIES. (a) A new or surviving corporation resulting from a merger or consolidation shall assume each insurance policy outstanding against each insurance corporation that merges or consolidates on the same terms and under the same conditions as if the policy had continued in force through the original corporation.
(b) The new or surviving insurance corporation shall implement the terms of the policy.
(c) The new or surviving insurance corporation is entitled to:
(1) all rights and privileges under the policy; and
(2) all reserves that accumulated on the policy before the merger or consolidation.