Texas § IN.884.601 - AUTHORIZATION TO CONVERT

Full text of Texas The Texas Constitution § IN.884.601 — AUTHORIZATION TO CONVERT, with citation guidance and answers to common questions.

§ IN.884.601. AUTHORIZATION TO CONVERT

AUTHORIZATION TO CONVERT. (a) The shareholders of a stipulated premium company that possesses capital in an amount equal to at least $700,000, unencumbered surplus in an amount equal to at least $700,000, and sufficient reserves on hand for the company's policies as required under provisions of Chapter 425 , other than Sections 425.002-425.005, may convert the company to a legal reserve company that operates under Chapter 841 by complying with each requirement applicable to a company operating under that chapter. (b) The department may approve the conversion only after determining that the converting company has complied with the requirements applicable to that company under Subsection (a). Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 2E.089, eff. April 1, 2009.

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Frequently Asked Questions About Texas § IN.884.601

What does The Texas Constitution § IN.884.601 cover?

Section IN.884.601 ("AUTHORIZATION TO CONVERT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Texas § IN.884.601?

A common citation format is "The Texas Constitution § IN.884.601" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Texas law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.

How does Texas § IN.884.601 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Texas.