Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES |
Subtitle B. ORGANIZATION OF REGULATED ENTITIES |
Chapter 826. CONVERSION OF MUTUAL INSURANCE COMPANY TO STOCK INSURANCE COMPANY |
Subchapter C. ADOPTION OF CONVERSION PLAN |
Sec. 826.108. FILING OF MINUTES, ARTICLES OF INCORPORATION, AND BYLAWS; EFFECTIVE DATE OF CONVERSION
Latest version.
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(a) Not later than the 30th day after the date on which the eligible members approve the conversion plan, the converting company shall file with the commissioner:
(1) the minutes of the meeting at which the plan was approved; and
(2) the amended or restated articles of incorporation and bylaws of the resulting company.
(b) A conversion plan takes effect on the date that the amended or restated articles of incorporation are filed with the commissioner.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.