Sec. 822.157. ACTION BY COMMISSIONER AFTER FILING OF APPLICATION FOR CHARTER AMENDMENT. (a) The commissioner may hold a hearing on an application for a charter amendment. If the commissioner determines to hold a hearing on the application, the commissioner, after the items required for the charter amendment are filed with the commissioner, shall set a date for the hearing and publish notice of the hearing in one or more daily newspapers of this state.
(b) The commissioner may not require a hearing for an amendment relating to one or more of the following issues:
(1) a stock dividend resulting from a legal transfer of surplus to capital;
(2) a change in the name of the insurance company; or
(3) a change in the location of the insurance company's principal business office.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
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