Tex. Ins. Code § 4053.110

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 4053.110 - Redemption of Corporate Shares

A corporation acting as a managing general agent may redeem the shares of a shareholder or a deceased shareholder:

(1) on terms agreed on by the board of directors and the shareholder or the shareholder's personal representative; or

(2) at a price and on terms provided in the articles of incorporation, the bylaws, or an existing contract entered into between the shareholders.

Tex. Ins. Code § 4053.110

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. 4/1/2005.