Except as provided by this chapter, a resulting company:

1. (1) may exercise only the rights and privileges of a stock insurance company; and

2. (2) is subject to:

   1. (A) all of the requirements and rules imposed on stock insurance companies organized under this code; and
   2. (B) the laws of this state relating to the regulation or supervision of insurance companies.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.