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Texas Insurance Code - INS § 884.056. Application for Charter

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

(a) To obtain a charter for a stipulated premium company under this chapter, the incorporators must pay a charter fee in an amount determined under Chapter 202 and file with the department:

(1) an application for charter on the form and containing the information prescribed by the department;

(2) the company's articles of incorporation;  and

(3) an affidavit made by two or more of the incorporators that states that:

(A) the minimum capital and surplus requirements of Section 884.054 are satisfied;

(B) the capital and surplus is the bona fide property of the company;  and

(C) the information in the application and articles of incorporation is true and correct.

(b) The department may require that the incorporators provide at their expense additional evidence of a matter required in the affidavit before the department takes further action on the application for the charter.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 884.056. Application for Charter - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-884-056/

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