Tex. Ins. Code § 828.001

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

Section 828.001 - Authority to Purchase Stock for Total Assumption Reinsurance

This code does not affect the right of a life insurance company organized or operating under Chapter 841, 882, or 982 to purchase or contract to purchase all or part of the outstanding shares of another domestic or foreign life insurance company that engages in a similar line of business in order to:

(1) reinsure all of the other company's business;

(2) assume all of the other company's liabilities; and

(3) take over all of the other company's assets.

Tex. Ins. Code § 828.001

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.