{"data":{"id":"us-tx/tex.-insurance-code-882.653","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 882.653","heading":"CONVERSION REQUIREMENTS.","body":"Except as provided by Section 882. 654, a mutual assessment company or association may convert to a mutual life insurance company only if the company or association:\n(1) possesses an unencumbered surplus of at least $1.4 million; and\n(2) complies with the requirements of this chapter, including the requirements that the company or association execute articles of incorporation and obtain a charter and a certificate of authority.\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 E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES","CHAPTER 882. MUTUAL LIFE INSURANCE COMPANIES","SUBCHAPTER N. CONVERSION OF CERTAIN MUTUAL ASSESSMENT COMPANIES OR ASSOCIATIONS TO MUTUAL LIFE INSURANCE COMPANIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.882.htm#882.653","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"924590a5539d2a380f90666bd04d99a0bbba9d3297d1191681abb3446873aec4","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-882.652","next":"us-tx/tex.-insurance-code-882.654"},"notice":"GroundRules: Original legal text. Not legal advice."}