Tex. Insurance Code § 829.054
This is the official text of Tex. Insurance Code § 829.054, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 829.054. SUBSCRIPTION RIGHTS; TAX-QUALIFIED EMPLOYEE BENEFIT PLAN.
Official statutory text
The conversion plan may allocate to a tax-qualified employee benefit plan nontransferable subscription rights to purchase not more than 10 percent of the capital stock of the resulting company.
Status: in_force · Read it on the official government site
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