Tex. Ins. Code Section 826.059
Subscription Rights; Tax-qualified Employee Benefit Plan


The conversion plan may allocate to a tax-qualified employee benefit plan nontransferable subscription rights to purchase not more than 10 percent of the capital stock of the resulting company.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 826.059 — Subscription Rights; Tax-qualified Employee Benefit Plan, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­826.­htm#826.­059 (accessed Jun. 5, 2024).

Accessed:
Jun. 5, 2024

§ 826.059’s source at texas​.gov