Tex. Insurance Code § 885.457
This is the official text of Tex. Insurance Code § 885.457, 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.
§ 885.457. COMPLETION AND LEGAL EFFECT OF CONVERSION TO STOCK COMPANY.
Official statutory text
(a) The conversion of a fraternal benefit society to an incorporated stock company is complete when the society has:
(1) complied with this subchapter and other state law regulating the incorporation of a life insurance company; and
(2) received from the commissioner its charter or certificate of authority to transact business as an incorporated stock company.
(b) A fraternal benefit society that converts to an incorporated stock company:
(1) is considered by law to have each right, privilege, power, or authority of any other stock corporation organized for engaging in the business of life insurance in this state;
(2) is subject to laws applicable to a stock corporation organized under Chapter 841 for engaging in the business of life insurance in this state;
(3) is considered by law to be a continuation of the business of the fraternal benefit society on the formation of the new company or amendment of its former charter; and
(4) succeeds to and is invested with each right, privilege, or franchise and all property of the former society, including debts due on any account and all choses in action.
(c) On conversion of a fraternal benefit society to an incorporated stock company, the title to any real estate by deed or otherwise vested in the society vests in the company, and the title is not in any way impaired because of the conversion.
(1) complied with this subchapter and other state law regulating the incorporation of a life insurance company; and
(2) received from the commissioner its charter or certificate of authority to transact business as an incorporated stock company.
(b) A fraternal benefit society that converts to an incorporated stock company:
(1) is considered by law to have each right, privilege, power, or authority of any other stock corporation organized for engaging in the business of life insurance in this state;
(2) is subject to laws applicable to a stock corporation organized under Chapter 841 for engaging in the business of life insurance in this state;
(3) is considered by law to be a continuation of the business of the fraternal benefit society on the formation of the new company or amendment of its former charter; and
(4) succeeds to and is invested with each right, privilege, or franchise and all property of the former society, including debts due on any account and all choses in action.
(c) On conversion of a fraternal benefit society to an incorporated stock company, the title to any real estate by deed or otherwise vested in the society vests in the company, and the title is not in any way impaired because of the conversion.
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.