Tex. Insurance Code § 887.155
This is the official text of Tex. Insurance Code § 887.155, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 887.155. TRANSFER OF MEMBERSHIP OR MERGER OF CLASSES.
Official statutory text
(a) Without advance approval of the department, an association may not:
(1) transfer any part or class of membership or all membership to another association; or
(2) merge classes or transfer a member from one class to another in the association.
(b) The department may grant approval under Subsection (a) only after the department:
(1) completely investigates the facts; and
(2) determines that the proposed merger or transfer is to the advantage of the members or classes affected by the merger or transfer.
(1) transfer any part or class of membership or all membership to another association; or
(2) merge classes or transfer a member from one class to another in the association.
(b) The department may grant approval under Subsection (a) only after the department:
(1) completely investigates the facts; and
(2) determines that the proposed merger or transfer is to the advantage of the members or classes affected by the merger or transfer.
Status: in_force · Read it on the official government site
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