Sec. 826.001. DEFINITIONS. In this chapter: (1) "Conversion plan" means a plan adopted under this chapter to convert a mutual insurance company into a stock insurance company. (2) "Converting company" means a domestic mutual insurance company that is converting under this chapter into a domestic stock insurance company. (3) "Eligible member" means a member of a converting company whose policy is in force on the date that the company's board of directors adopts a conversion plan. The term does not include a person insured under a group policy. (4) "Mutual insurance company" means a domestic mutual insurance company. (5) "Participating policy" means a policy issued by a mutual insurance company that grants a holder the right to receive declared dividends. (6) "Resulting company" means a domestic stock insurance company that has converted under this chapter from a domestic mutual insurance company.
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