Tex. Insurance Code § 824.151
This is the official text of Tex. Insurance Code § 824.151, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 824.151. PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION.
Official statutory text
(a) A life insurance corporation may purchase or contract to purchase all or part of the outstanding shares of another life insurance corporation for purposes of merger or consolidation.
(b) Except as provided by Section 824.152, the provisions of Subchapter D, Chapter 425, that limit investments in the corporate stock of another corporation do not apply to a purchase made under this section.
(b) Except as provided by Section 824.152, the provisions of Subchapter D, Chapter 425, that limit investments in the corporate stock of another corporation do not apply to a purchase made under this section.
Status: in_force · Read it on the official government site
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