Sec. 882.607. OTHER TYPES OF CONVERSION NOT PROHIBITED. This subchapter does not prohibit a mutual life insurance company from converting to a stock legal reserve life insurance company by:
(1) merger or consolidation;
(2) a total direct or assumption reinsurance agreement; or
(3) any other plan or procedure approved by the company's policyholders and the commissioner.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
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