No. V-1099 (1950).
Case Date | August 28, 1950 |
Court | Texas |
(1) May the company amend its charter?(2) May the company amend its charter in such a manner as to permit relocation of its home office in another county, so as to authorize it to write insurance in the county of relocation if such county of relocation is outside the original territorial limits for writing insurance prescribed in Article 4860a-20, Section 15, V.C.S., and prescribed in the original constitution, bylaws and articles of association of the company? County mutual insurance companies, as initially defined, authorized and regulated in 1937 by the 45th Legislature, which first passed the Act subsequently2codified as Article 4860a-20, V.C.S., were clothed with most of the essential characteristics of the type of mutual insurance companies authorized to write insurance other than life insurance, as set out in Chapter 9 of the Insurance Title in Vernon's Civil Statutes, except on certain enumerated risks. Since then they have operated with but slight statutory regulation until 1947 when the Legislature amended Article 4860a-20 and provided more detailed exactions of such companies. For one thing, it then defined a sub-classification of county mutual insurance companies by providing that those maintaining more than 60% rural risks...
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