{"data":{"id":"us-tx/tex.-insurance-code-912.061","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 912.061","heading":"APPLICATION FOR EXTENSION OF CHARTER; TERM.","body":"(a) Before a county mutual insurance company's charter or extension of the charter expires, the company may apply to the department for an extension of the charter for a term of 50 years from the date the charter would otherwise expire.\n(b) The application for an extension must:\n(1) demonstrate that the application was authorized either by a two-thirds vote of the company's directors or by a majority vote at a policyholders' meeting;\n(2) state in full the charter to be extended;\n(3) state the period for which the charter is to be extended;\n(4) be signed and acknowledged by the president and secretary of the company; and\n(5) be accompanied by a fee of $50.\n(c) A company whose charter is extended retains the rights, privileges, and immunities granted a county mutual insurance company by this chapter.\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 F. FARM AND COUNTY MUTUAL INSURANCE COMPANIES","CHAPTER 912. COUNTY MUTUAL INSURANCE COMPANIES","SUBCHAPTER B. ORGANIZATION OF COUNTY MUTUAL INSURANCE COMPANY; DIRECTORS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.912.htm#912.061","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"ce2f4710a1072f1d4c20cee7f61335b13ce16a558cfdb1a124b5b1c45c029b76","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-912.060","next":"us-tx/tex.-insurance-code-912.101"},"notice":"GroundRules: Original legal text. Not legal advice."}