Tex. Insurance Code § 824.052
This is the official text of Tex. Insurance Code § 824.052, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 824.052. EFFECTIVE DATE OF CONSOLIDATION.
Official statutory text
(a) A new insurance corporation resulting from a plan of consolidation shall be issued a charter and a certificate of authority on:
(1) submission of proper articles of incorporation to the commissioner;
(2) approval by the commissioner in accordance with the procedures required for the issuance of a new charter; and
(3) submission of proof that the new corporation has capital and surplus at least equal to that of the corporation that is a party to the consolidation and has the largest capital and surplus.
(b) A consolidation takes effect on the date of issuance of the charter and certificate of authority under Subsection (a).
(1) submission of proper articles of incorporation to the commissioner;
(2) approval by the commissioner in accordance with the procedures required for the issuance of a new charter; and
(3) submission of proof that the new corporation has capital and surplus at least equal to that of the corporation that is a party to the consolidation and has the largest capital and surplus.
(b) A consolidation takes effect on the date of issuance of the charter and certificate of authority under Subsection (a).
Status: in_force · Read it on the official government site
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