Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Insurance Code § 861.153: AUTHORIZED SHARES.

Where this section sits in the code

INSURANCE CODE
TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
SUBTITLE D. CASUALTY COMPANIES
CHAPTER 861. GENERAL CASUALTY COMPANIES
SUBCHAPTER D. POWERS AND DUTIES OF GENERAL CASUALTY COMPANY

(a) A general casualty company may increase or decrease its capital stock after:

(1) the intent to increase the stock is ratified by a two-thirds vote of the shareholders or the intent to decrease the stock is ratified by a majority vote of the shareholders; and

(2) notice of the intent to increase or decrease the stock is published in a newspaper of general circulation for five consecutive days.

(b) An increase in capital stock must be equal to an amount of at least $50,000.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Collected 2026-08-27T01:47:21Z. Source file · JSON

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