GroundRules
Tex. Insurance Code § 829.007: SALE OF SECURITIES.
Where this section sits in the code
- INSURANCE CODE
- TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
- SUBTITLE B. ORGANIZATION OF REGULATED ENTITIES
- CHAPTER 829. CONVERSION OF RECIPROCAL OR INTERINSURANCE EXCHANGE TO STOCK COMPANY THROUGH CREATION OF A MUTUAL HOLDING COMPANY
- SUBCHAPTER A. GENERAL PROVISIONS
(a) A sale, issuance, or offering of securities under this chapter is exempt from the registration and licensing provisions of The Securities Act (Title 12, Government Code).
(b) An officer, director, or employee of an exchange, an intermediate holding company, a mutual holding company, or a resulting company who participates in a conversion under this chapter is exempt from the registration and licensing provisions of The Securities Act (Title 12, Government Code). A person may not receive compensation, other than that person's usual salary or compensation, for services performed under the exemption provided by this subsection.
Added by Acts 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.31, eff. January 1, 2022.
Collected 2026-08-27T01:47:21Z. Source file · JSON