Sec. 825.002.  AUTHORITY TO CONVERT TO MUTUAL INSURANCE COMPANY.  (a)  A domestic stock insurance company, as defined by law, may convert to a mutual insurance company.
(b)  To convert to a mutual insurance company, a stock insurance company must implement a plan for the acquisition of shares of its capital stock.
(c)  In implementing a stock acquisition plan under this chapter, a converting company may acquire shares of its stock by gift, bequest, or purchase.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.