Tex. Insurance Code § 824.101
This is the official text of Tex. Insurance Code § 824.101, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 824.101. EFFECT OF MERGER OR CONSOLIDATION ON OUTSTANDING INSURANCE POLICIES.
Official statutory text
(a) A new or surviving corporation resulting from a merger or consolidation shall assume each insurance policy outstanding against each insurance corporation that merges or consolidates on the same terms and under the same conditions as if the policy had continued in force through the original corporation.
(b) The new or surviving insurance corporation shall implement the terms of the policy.
(c) The new or surviving insurance corporation is entitled to:
(1) all rights and privileges under the policy; and
(2) all reserves that accumulated on the policy before the merger or consolidation.
(b) The new or surviving insurance corporation shall implement the terms of the policy.
(c) The new or surviving insurance corporation is entitled to:
(1) all rights and privileges under the policy; and
(2) all reserves that accumulated on the policy before the merger or consolidation.
Status: in_force · Read it on the official government site
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