Texas Insurance Code 825.054 – Policyholder Eligibility
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 825.054
- Year: means 12 consecutive months. See Texas Government Code 311.005
To be eligible to participate in a policyholders’ meeting held to approve a stock acquisition plan, a policyholder must have insurance coverage issued by the converting company that:
(1) is in the amount of at least $1,000;
(2) is in force on the date of the policyholders’ meeting; and
(3) has been in force for at least one year before the date of the policyholders’ meeting.