{"data":{"id":"us-tx/tex.-insurance-code-826.059","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 826.059","heading":"SUBSCRIPTION RIGHTS; TAX-QUALIFIED EMPLOYEE BENEFIT PLAN.","body":"The conversion plan may allocate to a tax-qualified employee benefit plan nontransferable subscription rights to purchase not more than 10 percent of the capital stock of the resulting company.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE B. ORGANIZATION OF REGULATED ENTITIES","CHAPTER 826. CONVERSION OF MUTUAL INSURANCE COMPANY TO STOCK INSURANCE COMPANY","SUBCHAPTER B. CONVERSION PLAN ADOPTION AND REQUIREMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.826.htm#826.059","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"ece1ddc6b81d6f4357fb381b113f332aa76645acd1a024b7408cbef63ce3080c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-826.058","next":"us-tx/tex.-insurance-code-826.060"},"notice":"GroundRules: Original legal text. Not legal advice."}