Tex. Insurance Code § 887.510
This is the official text of Tex. Insurance Code § 887.510, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 887.510. INCREASE OF CAPITAL AND SURPLUS REQUIRED.
Official statutory text
(a) An association that converts to a stock legal reserve life insurance company under this subchapter shall, not later than the 10th anniversary of the date of conversion, increase its capital and surplus to the minimum capital and surplus required for a stock legal reserve life insurance company organized under Chapter 841.
(b) The commissioner shall revoke a converted association's certificate of authority to engage in the business of insurance if the association does not comply with Subsection (a).
(b) The commissioner shall revoke a converted association's certificate of authority to engage in the business of insurance if the association does not comply with Subsection (a).
Status: in_force · Read it on the official government site
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