Tex. Insurance Code § 829.152
This is the official text of Tex. Insurance Code § 829.152, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 829.152. MEMBERSHIP INTERESTS.
Official statutory text
(a) The membership interests of the policyholders of the resulting company become membership interests in the mutual holding company. Members of the converting exchange become members of the mutual holding company in accordance with the articles of incorporation and bylaws of the mutual holding company.
(b) A membership interest in a mutual holding company does not constitute a security as defined by Section 4001.068, Government Code.
(b) A membership interest in a mutual holding company does not constitute a security as defined by Section 4001.068, Government Code.
Status: in_force · Read it on the official government site
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