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Texas Insurance Code - INS § 2551.056. Regulation of Certain Corporations

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A corporation incorporated under Subdivision 57, Article 1302, Revised Statutes, before February 27, 1929, and engaging in business in this state on February 27, 1929:

(1) may continue to engage in business;

(2) is subject to this title; and

(3) shall comply with the requirements of this title regarding investments and deposits.

(b) A shareholder in a company acting under this title is not liable in the event of default in the payment of any debt or liability of the company beyond the shareholder's subscription for stock.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2551.056. Regulation of Certain Corporations - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2551-056/

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