{"data":{"id":"us-tx/tex.-insurance-code-861.153","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 861.153","heading":"AUTHORIZED SHARES.","body":"(a) A general casualty company may increase or decrease its capital stock after:\n(1) the intent to increase the stock is ratified by a two-thirds vote of the shareholders or the intent to decrease the stock is ratified by a majority vote of the shareholders; and\n(2) notice of the intent to increase or decrease the stock is published in a newspaper of general circulation for five consecutive days.\n(b) An increase in capital stock must be equal to an amount of at least $50,000.\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 D. CASUALTY COMPANIES","CHAPTER 861. GENERAL CASUALTY COMPANIES","SUBCHAPTER D. POWERS AND DUTIES OF GENERAL CASUALTY COMPANY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.861.htm#861.153","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"5fd6328242e4b64b4a179e9eb6d6dc16341916cabe89c062fd6cbfc1c82870c6","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-861.152","next":"us-tx/tex.-insurance-code-861.154"},"notice":"GroundRules: Original legal text. Not legal advice."}