Sec. 884.052. ARTICLES OF INCORPORATION. (a) Articles of incorporation of a stipulated premium company must specify:
(1) the name and place of residence of each incorporator;
(2) the name of the proposed stipulated premium company;
(3) the location of the proposed company's home office;
(4) the kinds of insurance business the proposed company will transact;
(5) the amount of the proposed company's capital stock;
(6) the number of shares of the proposed company's capital stock; and
(7) the period of the proposed company's duration, which may not exceed 500 years.
(b) The incorporators of a stipulated premium company may include other provisions in the articles of incorporation.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Section: Previous 884.001 884.002 884.003 884.051 884.052 884.053 884.054 884.055 884.056 884.057 884.058 884.059 884.060 884.061 884.101 NextLast modified: September 28, 2016