Texas § 824.151 PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION.

Texas Statutes

§ 824.151 — PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION.

Texas § 824.151

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This text of Texas § 824.151 (PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION.) 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. § 824.151 (2026).

Text

Sec. 824.151. PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION.

(a)A life insurance corporation may purchase or contract to purchase all or part of the outstanding shares of another life insurance corporation for purposes of merger or consolidation.

(b)Except as provided by Section 824.152 , the provisions of Subchapter D , Chapter 425 , that limit investments in the corporate stock of another corporation do not apply to a purchase made under this section.

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Sec. 824.151. PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION. (a) A life insurance corporation may purchase or contract to purchase all or part of the outstanding shares of another life insurance corporation for purposes of merger or consolidation.
(b) Except as provided by Section 824.152 , the provisions of Subchapter D , Chapter 425 , that limit investments in the corporate stock of another corporation do not apply to a purchase made under this section.

Legislative History

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 2E.013, eff. April 1, 2009.