1. (a) Articles of incorporation of a stipulated premium company must specify:

   1. (1) the name and place of residence of each incorporator;
   2. (2) the name of the proposed stipulated premium company;
   3. (3) the location of the proposed company's home office;
   4. (4) the kinds of insurance business the proposed company will transact;
   5. (5) the amount of the proposed company's capital stock;
   6. (6) the number of shares of the proposed company's capital stock; and
   7. (7) the period of the proposed company's duration, which may not exceed 500 years.
2. (b) The incorporators of a stipulated premium company may include other provisions in the articles of incorporation.

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