Sec. 911.055.  APPLICATION FOR PERMIT TO SOLICIT INSURANCE.  (a)  At least 10 residents described by Section 911.054(a) that want to form a farm mutual insurance company may apply to the department for a permit to solicit insurance on the mutual or cooperative plan.
(b)  The application for a permit to solicit insurance must:
(1)  state:
(A)  that at least 100 individuals are members of an association described by Section 911.053(b)(1);
(B)  that the association has indicated, by majority vote, that the association wants to:
(i)  insure property of the association's members under this chapter;  and
(ii)  be chartered as a farm mutual insurance company;
(C)  the name of the company, which must include the words "Farm Mutual" or "Farmers Mutual";
(D)  the location of the company's principal office;
(E)  the risks the company proposes to insure;  and
(F)  the names and places of residence of at least 10 of the applicants;  and
(2)  be accompanied by:
(A)  affidavits of at least two of the applicants, each of whom must:
(i)  state the applicant's name and residence;  and
(ii)  verify the facts stated in the application;  and
(B)  a filing fee in the amount of $25.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.