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Texas Insurance Code - INS § 824.002. Procedures;  Applicability of Texas Business Corporation Act

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

(a) To the extent that the provisions of the Texas Business Corporation Act are not inconsistent with the provisions of this code, the Texas Business Corporation Act governs:

(1) the procedures for a merger or consolidation under this chapter;

(2) the effect of a merger or consolidation under this chapter;  and

(3) the rights and duties of creditors, shareholders, and the corporations that are involved in a merger or consolidation under this chapter.

(b) To the extent that the Texas Business Corporation Act applies under this chapter to insurance corporations, the commissioner shall perform each duty, exercise each power, and perform each act vested in, required of, or to be performed by the secretary of state under the Texas Business Corporation Act.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 824.002. Procedures;  Applicability of Texas Business Corporation Act - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-824-002/

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