{"data":{"id":"us-tx/tex.-insurance-code-829.152","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 829.152","heading":"MEMBERSHIP INTERESTS.","body":"(a) The membership interests of the policyholders of the resulting company become membership interests in the mutual holding company. Members of the converting exchange become members of the mutual holding company in accordance with the articles of incorporation and bylaws of the mutual holding company.\n(b) A membership interest in a mutual holding company does not constitute a security as defined by Section 4001.068, Government Code.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.\nAmended by:\nActs 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.32, eff. January 1, 2022.","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 D. EFFECT OF PLAN; RIGHTS OF MEMBERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.829.htm#829.152","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"7ade7ae5d50c03ab1a6f11701bc9bc9a9ebd3bc3a29d12982a5bd01c0dd70216","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-829.151","next":"us-tx/tex.-insurance-code-829.153"},"notice":"GroundRules: Original legal text. Not legal advice."}