{"data":{"id":"us-tx/tex.-insurance-code-4053.110","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 4053.110","heading":"REDEMPTION OF CORPORATE SHARES.","body":"A corporation acting as a managing general agent may redeem the shares of a shareholder or a deceased shareholder:\n(1) on terms agreed on by the board of directors and the shareholder or the shareholder's personal representative; or\n(2) at a price and on terms provided in the articles of incorporation, the bylaws, or an existing contract entered into between the shareholders.\nAdded by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.","path":["INSURANCE CODE","TITLE 13. REGULATION OF PROFESSIONALS","SUBTITLE B. AGENTS","CHAPTER 4053. MANAGING GENERAL AGENTS","SUBCHAPTER C. POWERS AND DUTIES OF MANAGING GENERAL AGENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.4053.htm#4053.110","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"af35ec4ca6d9d7a7e41dc22249b87c50469b71ab869204374b870a98f5819259","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-4053.109","next":"us-tx/tex.-insurance-code-4053.151"},"notice":"GroundRules: Original legal text. Not legal advice."}