{"data":{"id":"us-tx/tex.-insurance-code-941.353","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 941.353","heading":"REQUIREMENTS OF CONVERSION PLAN.","body":"The conversion plan must provide that a capital stock insurance company will be formed in accordance with Chapter 822, except that:\n(1) the company's required minimum capital and surplus must equal the required minimum guaranty fund and surplus of the Lloyd's plan;\n(2) the company's assets may be in cash or in the form of an investment lawfully held by the Lloyd's plan; and\n(3) an original examination under Section 822.058(b) is not required unless directed by the commissioner.\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 G. LLOYD'S PLAN AND RECIPROCAL AND INTERINSURANCE EXCHANGES","CHAPTER 941. LLOYD'S PLAN","SUBCHAPTER H. CONVERSION TO CAPITAL STOCK INSURANCE COMPANY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.941.htm#941.353","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"87c869500a99f3f647db71264ae11cc406017f235dbe6567809f68c7fc442f53","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-941.352","next":"us-tx/tex.-insurance-code-941.354"},"notice":"GroundRules: Original legal text. Not legal advice."}