{"data":{"id":"us-tx/tex.-insurance-code-829.054","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 829.054","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 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE B. ORGANIZATION OF REGULATED ENTITIES","CHAPTER 829. CONVERSION OF RECIPROCAL OR INTERINSURANCE EXCHANGE TO STOCK COMPANY THROUGH CREATION OF A MUTUAL HOLDING COMPANY","SUBCHAPTER B. MUTUAL HOLDING COMPANY STRUCTURE"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.829.htm#829.054","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"8208f70f0ca6d42ea1993dcdc3f0f2380da4c0e18bda1c63f4673f081b89dbfc","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-829.053","next":"us-tx/tex.-insurance-code-829.101"},"notice":"GroundRules: Original legal text. Not legal advice."}