{"data":{"id":"us-tx/tex.-insurance-code-887.510","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 887.510","heading":"INCREASE OF CAPITAL AND SURPLUS REQUIRED.","body":"(a) An association that converts to a stock legal reserve life insurance company under this subchapter shall, not later than the 10th anniversary of the date of conversion, increase its capital and surplus to the minimum capital and surplus required for a stock legal reserve life insurance company organized under Chapter 841.\n(b) The commissioner shall revoke a converted association's certificate of authority to engage in the business of insurance if the association does not comply with Subsection (a).\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 887. PROVISIONS APPLICABLE TO CERTAIN MUTUAL ASSESSMENT COMPANIES","SUBCHAPTER K. CONVERSION TO STOCK LEGAL RESERVE LIFE INSURANCE COMPANY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.887.htm#887.510","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"69304a963845b225455016cc42a26933f3f581b4200180b03f883531148aa0c0","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-887.509","next":"us-tx/tex.-insurance-code-887.551"},"notice":"GroundRules: Original legal text. Not legal advice."}