{"data":{"id":"us-tx/tex.-insurance-code-824.151","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 824.151","heading":"PURCHASE OF OUTSTANDING SHARES BY LIFE INSURANCE CORPORATION.","body":"(a) A life insurance corporation may purchase or contract to purchase all or part of the outstanding shares of another life insurance corporation for purposes of merger or consolidation.\n(b) Except as provided by Section 824.152, the provisions of Subchapter D, Chapter 425, that limit investments in the corporate stock of another corporation do not apply to a purchase made under this section.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.013, eff. April 1, 2009.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE B. ORGANIZATION OF REGULATED ENTITIES","CHAPTER 824. MERGER AND CONSOLIDATION OF STOCK INSURANCE CORPORATIONS","SUBCHAPTER D. MERGER OR CONSOLIDATION OF LIFE INSURANCE CORPORATIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.824.htm#824.151","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"2fab7bfa993f9eece86076f650ebfa44853dd8b79a5b3fda35b56c7a9a688056","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-824.104","next":"us-tx/tex.-insurance-code-824.152"},"notice":"GroundRules: Original legal text. Not legal advice."}