Tex. Insurance Code § 882.601
This is the official text of Tex. Insurance Code § 882.601, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 882.601. AUTHORITY TO CONVERT TO STOCK LEGAL RESERVE LIFE INSURANCE COMPANY; POLICYHOLDER AUTHORIZATION REQUIRED.
Official statutory text
A mutual life insurance company organized under this chapter may convert to a stock legal reserve life insurance company as provided by this subchapter only if the conversion is approved by the policyholders by a vote of at least two-thirds of the votes cast by the policyholders in person or by proxy at a meeting called for that purpose.
Status: in_force · Read it on the official government site
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