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Texas Insurance Code - INS § 828.053. Minimum Stock Acquisition

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

The purchasing company shall obtain or seek to obtain at least the number of shares of the other insurance company necessary to vote an approval of the total assumption reinsurance agreement under the laws of the state in which the other insurance company is organized by one or more of the following means:

(1) initially purchasing or contracting to purchase the shares;  or

(2) offering to purchase, making a tender offer for, requesting or inviting tenders of, or otherwise seeking to acquire the shares in the open market or otherwise.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 828.053. Minimum Stock Acquisition - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-828-053/

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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