Tex. Insurance Code § 882.653
This is the official text of Tex. Insurance Code § 882.653, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 882.653. CONVERSION REQUIREMENTS.
Official statutory text
Except as provided by Section 882. 654, a mutual assessment company or association may convert to a mutual life insurance company only if the company or association:
(1) possesses an unencumbered surplus of at least $1.4 million; and
(2) complies with the requirements of this chapter, including the requirements that the company or association execute articles of incorporation and obtain a charter and a certificate of authority.
(1) possesses an unencumbered surplus of at least $1.4 million; and
(2) complies with the requirements of this chapter, including the requirements that the company or association execute articles of incorporation and obtain a charter and a certificate of authority.
Status: in_force · Read it on the official government site
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