On the effective date of a merger or consolidation under this subchapter, a new or surviving life insurance company resulting from the merger or consolidation assumes all liabilities of the original companies.
Tex. Ins. Code § 882.562
ASSUMPTION OF LIABILITIES
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.