Texas Insurance Code 884.056 – Application for Charter
(a) To obtain a charter for a stipulated premium company under this chapter, the incorporators must pay a charter fee in an amount determined under Chapter 202 and file with the department:
(1) an application for charter on the form and containing the information prescribed by the department;
(2) the company’s articles of incorporation; and
(3) an affidavit made by two or more of the incorporators that states that:
(A) the minimum capital and surplus requirements of § 884.054 are satisfied;
(B) the capital and surplus is the bona fide property of the company; and
(C) the information in the application and articles of incorporation is true and correct.
(b) The department may require that the incorporators provide at their expense additional evidence of a matter required in the affidavit before the department takes further action on the application for the charter.
Terms Used In Texas Insurance Code 884.056
- Affidavit: means a statement in writing of a fact or facts signed by the party making it, sworn to before an officer authorized to administer oaths, and officially certified to by the officer under his seal of office. See Texas Government Code 312.011
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Property: means real and personal property. See Texas Government Code 311.005