{"data":{"id":"us-tx/tex.-insurance-code-885.451","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 885.451","heading":"CONVERSION OF FRATERNAL BENEFIT SOCIETY TO MUTUAL OR STOCK COMPANY.","body":"(a) Subject to Subsection (b), a fraternal benefit society engaging in business in this state may convert to a mutual life insurance company or incorporated stock company by complying with this subchapter.\n(b) A fraternal benefit society may not convert to a mutual life insurance company or incorporated stock company except on terms that, in the commissioner's opinion, will fully protect the rights and interests of the society's members and holders of benefit certificates.\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 885. FRATERNAL BENEFIT SOCIETIES","SUBCHAPTER J. CONVERSION OF FRATERNAL BENEFIT SOCIETY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.885.htm#885.451","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"7a5772678fadbe0bf9b339ea179302be50d3bfa9f9547f48a47fc23c248f86d2","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-885.414","next":"us-tx/tex.-insurance-code-885.452"},"notice":"GroundRules: Original legal text. Not legal advice."}