{"data":{"id":"us-tx/tex.-insurance-code-826.109","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 826.109","heading":"CONFLICT OF INTEREST.","body":"(a) Except as provided by a conversion plan approved by the commissioner or this section, a director, officer, agent, or employee of a converting company may not receive a fee, commission, or other consideration, other than that person's usual salary or compensation, for aiding, promoting, or assisting in a conversion under this chapter.\n(b) This section does not prohibit the payment of reasonable fees and compensation to an attorney, accountant, or actuary for professional services performed by that person, even if the person is also a director or officer of the converting 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 C. ADOPTION OF CONVERSION PLAN"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.826.htm#826.109","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"cd9c3665a1beb1eb28cf797bc1d2f779402d1b9a7bd2b4f327110e3bb78a32df","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-826.108","next":"us-tx/tex.-insurance-code-826.110"},"notice":"GroundRules: Original legal text. Not legal advice."}