Except as otherwise provided by law, the department may revoke the right of a local mutual aid association to engage in the business of insurance in this state only on:

1. (1) the judgment of a court;
2. (2) the filing of articles of dissolution by the members of the association or by the officers on behalf of the members; or
3. (3) a filing showing that the association's membership has been merged and taken over by another association.

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