{"data":{"id":"us-tx/tex.-insurance-code-829.153","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 829.153","heading":"RIGHTS OF MEMBERS WHOSE POLICIES ARE ISSUED AFTER ADOPTION OF CONVERSION PLAN BUT BEFORE EFFECTIVE DATE.","body":"(a) On issuance of a policy after a conversion plan has been adopted by the board of directors but before the effective date of the conversion plan, the converting exchange shall send to each member to whom a policy is issued a written notice regarding the conversion plan.\n(b) Except as provided by Subsection (c), each member insured under a property or casualty insurance policy is entitled to notice under Subsection (a) and shall be advised in a clear and conspicuous manner of the member's right to:\n(1) cancel the policy; and\n(2) receive a pro rata refund of unearned premiums.\n(c) A member who has made or filed a claim under the insurance policy is not entitled to a refund under Subsection (b). A member who has exercised a right provided by Subsection (b) may not make or file a claim under the insurance policy.\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 D. EFFECT OF PLAN; RIGHTS OF MEMBERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.829.htm#829.153","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"5d1b56c43b3f88ecf1bbdc97e4e572abdc6064db11fd815512af0c76de23859b","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-829.152","next":"us-tx/tex.-insurance-code-829.154"},"notice":"GroundRules: Original legal text. Not legal advice."}