Texas Insurance Code - INS § 826.061. Alternate Conversion Plan

(1) complies with this chapter;

(2) is fair and equitable;  and

(3) permits the resulting company to satisfy the requirements in effect on the date of the determination for a certificate of authority applicable to a domestic stock insurance company.

(1) include the merger of a domestic mutual insurance company with a domestic or foreign stock insurance company;

(2) provide for issuing stock, cash, or other consideration to members instead of subscription rights;

(3) provide for the formation of a mutual holding company under Subchapter E;  1 or

(4) establish another plan containing other provisions approved by the commissioner.