Tex. Ins. Code Section 828.001
Authority to Purchase Stock for Total Assumption Reinsurance

This code does not affect the right of a life insurance company organized or operating under Chapter 841 (Life, Health, or Accident Insurance Companies), 882 (Mutual Life Insurance Companies), or 982 (Foreign and Alien Insurance Companies) to purchase or contract to purchase all or part of the outstanding shares of another domestic or foreign life insurance company that engages in a similar line of business in order to:

(1)

reinsure all of the other company’s business;

(2)

assume all of the other company’s liabilities; and

(3)

take over all of the other company’s assets.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 828.001 — Authority to Purchase Stock for Total Assumption Reinsurance, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­828.­htm#828.­001 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 828.001’s source at texas​.gov