Sec. 881.051. AUTHORITY TO ACT AS STATEWIDE MUTUAL ASSESSMENT COMPANY. A corporation may engage in business as a statewide mutual assessment company only if the corporation:
(1) was incorporated in this state under a law that was amended, repealed, or reenacted before June 20, 1933;
(2) was engaged in business as a statewide mutual assessment company in this state on December 31, 1932;
(3) does not have capital stock; and
(4) is not for profit.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
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