Tex. Insurance Code § 884.559
This is the official text of Tex. Insurance Code § 884.559, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 884.559. ACTION AFTER AGREEMENT RATIFICATION.
Official statutory text
(a) After ratification of the reinsurance agreement under Section 884.556, the mutual assessment company shall cease doing business and shall transfer all of its assets to the assuming stipulated premium company.
(b) The stipulated premium company shall assume:
(1) all policy liability in accordance with the reinsurance agreement; and
(2) all other liabilities in accordance with the method of payment of those liabilities.
(c) On transfer of a mutual assessment company's assets:
(1) the company shall promptly surrender its certificate of authority and charter to the department; and
(2) the company's corporate existence ceases.
(b) The stipulated premium company shall assume:
(1) all policy liability in accordance with the reinsurance agreement; and
(2) all other liabilities in accordance with the method of payment of those liabilities.
(c) On transfer of a mutual assessment company's assets:
(1) the company shall promptly surrender its certificate of authority and charter to the department; and
(2) the company's corporate existence ceases.
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.