Sec. 881.057. INSUFFICIENT MEMBERSHIP: CONSOLIDATION OR DISCONTINUATION OF GROUP, CLUB, OR CLASS OR LIQUIDATION OF COMPANY. (a) If membership of a group, club, or class of a statewide mutual assessment company is less than the number required by Section 881.054 , the company shall immediately notify: (1) the members of the group, club, or class; or (2) if the company has only one group, club, or class, the members of the company. (b) Not later than six months after a statewide mutual assessment company notifies the members of a group, club, or class under Subsection (a)(1), the company shall: (1) increase the membership of the group, club, or class to at least the number required by Section 881.054 ; (2) consolidate the group, club, or class with another group, club, or class; or (3) discontinue the group, club, or class. (c) Not later than six months after a statewide mutual assessment company notifies the members of the company under Subsection (a)(2), the company shall increase the membership to at least the number required by Section 881.054 . If the membership is not increased to at least that number, the commissioner shall take steps to liquidate the company under Subchapter L , Chapter 887 .
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