Texas Statutes
§ 825.104 — CONVERSION COMPLETE ON CANCELLATION OF STOCK; APPLICATION OF CERTAIN LAWS.
Texas § 825.104
JurisdictionTexas
Code INInsurance Code
This text of Texas § 825.104 (CONVERSION COMPLETE ON CANCELLATION OF STOCK; APPLICATION OF CERTAIN LAWS.) 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. § 825.104 (2026).
Text
Sec. 825.104. CONVERSION COMPLETE ON CANCELLATION OF STOCK; APPLICATION OF CERTAIN LAWS.
(a)When the converting company acquires all of its capital stock and the purchase price for that stock, including any annuity bond issued for the purchase of the stock, is paid in full, the stock shall be canceled.
(b)On cancellation of the stock, the converting company becomes a mutual insurance company without capital stock and is subject to the laws of this state governing mutual insurance companies.
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Legislative History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Nearby Sections
12
§ 825.001
DEFINITIONS.§ 825.051
CONTENTS OF STOCK ACQUISITION PLAN.§ 825.052
SUFFICIENT ASSETS REQUIRED.§ 825.053
STOCK ACQUISITION PLAN APPROVAL.§ 825.054
POLICYHOLDER ELIGIBILITY.§ 825.055
POLICYHOLDERS' MEETING.§ 825.056
POLICYHOLDER VOTING.§ 825.102
ACQUISITION IN TRUST.§ 825.103
DISTRIBUTION OF DIVIDENDS.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 825.104, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/IN/825.104.