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Texas Insurance Code - INS § 823.204. Plan for Future of Insurer

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

A statement required under Section 823.154 must contain:

(1) any plan or proposal of the acquiring person to:

(A) cause the insurer to pay dividends or make distributions;

(B) liquidate the insurer;

(C) sell any of the insurer's assets;

(D) merge or consolidate the insurer with any person;

(E) make any other material change in the insurer's business or corporate structure or management;  or

(F) cause the insurer to enter into material agreements, arrangements, or transactions of any kind with any person;  and

(2) any oral or written arrangement or agreement between the acquiring person or an affiliate of the acquiring person and the domestic insurer entered into during the 12 months preceding the date of the statement.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 823.204. Plan for Future of Insurer - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-823-204/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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