Texas Insurance Code 824.053 – Approval of Merger or Consolidation Affecting Foreign Corporation; Effective Date
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 824.053
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Notwithstanding Section 824.051 or 824.052, a merger or consolidation involving a corporation organized under the laws of another state does not take effect until the merger or consolidation is approved by the proper official of the domiciliary state, if that approval is required.