Texas Statutes
§ 826.059 — SUBSCRIPTION RIGHTS; TAX-QUALIFIED EMPLOYEE BENEFIT PLAN.
Texas § 826.059
JurisdictionTexas
Code INInsurance Code
This text of Texas § 826.059 (SUBSCRIPTION RIGHTS; TAX-QUALIFIED EMPLOYEE BENEFIT PLAN.) 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. § 826.059 (2026).
Text
Sec. 826.059. SUBSCRIPTION RIGHTS; TAX-QUALIFIED EMPLOYEE BENEFIT PLAN. The conversion plan may allocate to a tax-qualified employee benefit plan nontransferable subscription rights to purchase not more than 10 percent of the capital stock of the resulting company.
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Legislative History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Nearby Sections
15
§ 826.001
DEFINITIONS.§ 826.004
CERTAIN CONVERSIONS PROHIBITED.§ 826.005
CORPORATE EXISTENCE.§ 826.051
PLAN ADOPTION.§ 826.053
SALE OF CAPITAL STOCK.§ 826.054
PURCHASE PRICE OF CAPITAL STOCK.§ 826.056
DIRECTORS AND OFFICERS.§ 826.057
RIGHTS OF HOLDER OF SURPLUS NOTES.§ 826.060
LIQUIDATION ACCOUNT.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 826.059, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/IN/826.059.