Texas § 881.057 INSUFFICIENT MEMBERSHIP: CONSOLIDATION OR DISCONTINUATION OF GROUP, CLUB, OR CLASS OR LIQUIDATION OF COMPANY.

Texas Statutes

§ 881.057 — INSUFFICIENT MEMBERSHIP: CONSOLIDATION OR DISCONTINUATION OF GROUP, CLUB, OR CLASS OR LIQUIDATION OF COMPANY.

Texas § 881.057

Code INInsurance Code

This text of Texas § 881.057 (INSUFFICIENT MEMBERSHIP: CONSOLIDATION OR DISCONTINUATION OF GROUP, CLUB, OR CLASS OR LIQUIDATION OF COMPANY.) 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. § 881.057 (2026).

Text

Sec. 881.057. INSUFFICIENT MEMBERSHIP: CONSOLIDATION OR DISCONTINUATION OF GROUP, CLUB, OR CLASS OR LIQUIDATION OF COMPANY.

(a)If membership of a group, club, or class of a statewide mutual assessment company is less than the number required by Section 881.054 , the company shall immediately notify:

(1)the members of the group, club, or class; or

(2)if the company has only one group, club, or class, the members of the company.

(b)Not later than six months after a statewide mutual assessment company notifies the members of a group, club, or class under Subsection (a)(1), the company shall:

(1)increase the membership of the group, club, or class to at least the number required by Section 881.054 ;

(2)consolidate the group, club, or class with another group, club, or class; or

(3)disco

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Sec. 881.057. INSUFFICIENT MEMBERSHIP: CONSOLIDATION OR DISCONTINUATION OF GROUP, CLUB, OR CLASS OR LIQUIDATION OF COMPANY. (a) If membership of a group, club, or class of a statewide mutual assessment company is less than the number required by Section 881.054 , the company shall immediately notify:
(1) the members of the group, club, or class; or
(2) if the company has only one group, club, or class, the members of the company.
(b) Not later than six months after a statewide mutual assessment company notifies the members of a group, club, or class under Subsection (a)(1), the company shall:
(1) increase the membership of the group, club, or class to at least the number required by Section 881.054 ;
(2) consolidate the group, club, or class with another group, club, or class; or
(3) discontinue the group, club, or class.
(c) Not later than six months after a statewide mutual assessment company notifies the members of the company under Subsection (a)(2), the company shall increase the membership to at least the number required by Section 881.054 . If the membership is not increased to at least that number, the commissioner shall take steps to liquidate the company under Subchapter L , Chapter 887 .