Tex. Ins. Code Section 826.001
Definitions

In this chapter:

(1)

“Conversion plan” means a plan adopted under this chapter to convert a mutual insurance company into a stock insurance company.

(2)

“Converting company” means a domestic mutual insurance company that is converting under this chapter into a domestic stock insurance company.

(3)

“Eligible member” means a member of a converting company whose policy is in force on the date that the company’s board of directors adopts a conversion plan. The term does not include a person insured under a group policy.

(4)

“Mutual insurance company” means a domestic mutual insurance company.

(5)

“Participating policy” means a policy issued by a mutual insurance company that grants a holder the right to receive declared dividends.

(6)

“Resulting company” means a domestic stock insurance company that has converted under this chapter from a domestic mutual insurance company.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 826.001 — Definitions, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­826.­htm#826.­001 (accessed Jun. 5, 2024).

Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 826.001’s source at texas​.gov