Texas Insurance Code 884.254 – Transfer of Stock
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(a) A stipulated premium company’s shares of stock are transferable on the company’s books, in accordance with law and the bylaws of the company, by the owner or the owner’s authorized agent.
(b) Each person who becomes a shareholder by a transfer of shares succeeds to all rights of the former holder of those shares, by reason of that ownership.
Terms Used In Texas Insurance Code 884.254
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005