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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES |
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Subtitle B. ORGANIZATION OF REGULATED ENTITIES |
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Chapter 826. CONVERSION OF MUTUAL INSURANCE COMPANY TO STOCK INSURANCE COMPANY |
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Subchapter C. ADOPTION OF CONVERSION PLAN |
Sec. 826.101. PLAN INFORMATION FILED WITH COMMISSIONER; COMMISSIONER POWERS AND DUTIES
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Not later than the 90th day after the date on which a converting company's board of directors adopts a conversion plan, the company shall file with the commissioner:
(1) a copy of the documents relating to the conversion plan, including the valuation required by Section 826.054(a);
(2) the form of notice required by Section 826.104;
(3) the form of proxy to be solicited from eligible members under Section 826.107(a);
(4) the form of notice required by Section 826.151 to persons whose policies are issued after adoption of the conversion plan but before the effective date of the conversion plan;
(5) the proposed amended or restated articles of incorporation of the resulting company;
(6) a statement regarding acquisition of control, if applicable, as required by Chapter 823; and
(7) any other information requested by the commissioner.