Gavvy: Ins. Code, Sec. 829.054. Subscription Rights; Tax-qualified Employee Benefit Plan.

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Sec. 829.054. Subscription Rights; Tax-qualified Employee Benefit Plan.

Sec. 829.054. SUBSCRIPTION RIGHTS; TAX-QUALIFIED EMPLOYEE BENEFIT PLAN. The conversion plan may allocate to a tax-qualified employee benefit plan nontransferable subscription rights to purchase not more than 10 percent of the capital stock of the resulting company.

Added by Acts 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.

Gavvy last updated this database on: Sep 6, 2024