The name of a mutual life insurance company or incorporated stock company to which a fraternal benefit society converts:

1. (1) must, if possible, be a continuation of the society's name; and

2. (2) may not, if the new company's name is changed from the society's name, be:

   1. (A) the same as that of any other company engaging in business in this state; or
   2. (B) a name similar to that of any other company engaging in business in this state.

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