Formation of Company; Articles of Incorporation

Sec. 882.052. FORMATION OF COMPANY; ARTICLES OF INCORPORATION. (a) Nine or more persons who are residents of this state may form a mutual life insurance company by executing and acknowledging articles of incorporation for that purpose. (b) The articles of incorporation of the proposed company must state: (1) the name and residence of each incorporator; (2) the name of the company; (3) the location of the company's principal office at which company business is to be transacted; (4) the number of directors; (5) the name and residence of each initial director; and (6) the amount of the company's unencumbered surplus. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.