Unless the association increases the association’s capital and surplus to the minimum capital and surplus required for the organization of a stock legal reserve life insurance company under Chapter 841, an association that converts to a stock legal reserve life insurance company under this subchapter may not:
(1) operate in a territory as to which the association was not authorized under the converted association’s previous charter or articles of association;
(2) insure a life for more than $5,000 in event of death; or
(3) declare or pay cash dividends.