Texas § 826.204 MEMBERSHIP INTERESTS.

Texas Statutes

§ 826.204 — MEMBERSHIP INTERESTS.

Texas § 826.204

Code INInsurance Code

This text of Texas § 826.204 (MEMBERSHIP INTERESTS.) 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. § 826.204 (2026).

Text

Sec. 826.204. MEMBERSHIP INTERESTS.

(a)The membership interests of the policyholders of the resulting company become membership interests in the mutual holding company. Eligible members of the converting company become members of the mutual holding company in accordance with the articles of incorporation and bylaws of the mutual holding company.

(b)A membership interest in a mutual holding company does not constitute a security as defined by Section 4001.068 , Government Code.

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Sec. 826.204. MEMBERSHIP INTERESTS. (a) The membership interests of the policyholders of the resulting company become membership interests in the mutual holding company. Eligible members of the converting company become members of the mutual holding company in accordance with the articles of incorporation and bylaws of the mutual holding company.
(b) A membership interest in a mutual holding company does not constitute a security as defined by Section 4001.068 , Government Code.

Legislative History

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 2.30, eff. January 1, 2022.