Tex. Ins. Code Section 2551.054
Purchase of Own Stock

(a)

Subject to Section 2551.053(a) and the Texas Business Corporation Act, a title insurance company may purchase its own shares of stock. A purchase of its own shares is not considered an investment and does not constitute a violation of a provision of this code relating to admissible investments.

(b)

A title insurance company that purchases its own shares must, not later than the 10th day after the date of purchase, file with the commissioner a statement listing:

(1)

the name of each shareholder from whom the shares have been purchased; and

(2)

the amount paid for the shares.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.

Source: Section 2551.054 — Purchase of Own Stock, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­2551.­htm#2551.­054 (accessed Apr. 20, 2024).

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Accessed:
Apr. 20, 2024

§ 2551.054’s source at texas​.gov