GroundRules
Tex. Insurance Code § 887.155: TRANSFER OF MEMBERSHIP OR MERGER OF CLASSES.
Where this section sits in the code
- INSURANCE CODE
- TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
- SUBTITLE E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES
- CHAPTER 887. PROVISIONS APPLICABLE TO CERTAIN MUTUAL ASSESSMENT COMPANIES
- SUBCHAPTER D. MEMBERS
(a) Without advance approval of the department, an association may not:
(1) transfer any part or class of membership or all membership to another association; or
(2) merge classes or transfer a member from one class to another in the association.
(b) The department may grant approval under Subsection (a) only after the department:
(1) completely investigates the facts; and
(2) determines that the proposed merger or transfer is to the advantage of the members or classes affected by the merger or transfer.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Collected 2026-08-27T01:47:21Z. Source file · JSON