State v. Texas Mut. Life Ins. Co. of Texas

The state through its Attorney General brought this proceeding in the nature of a quo warranto, seeking to forfeit the charter of the Texas Mutual Life Insurance Company of Texas, to which we shall refer as appellee, and for other proper ancillary relief, on the ground that the company was doing a state-wide assessment plan life insurance business in Texas, without complying with the following statutory provisions:

1. That it does not have a capital stock of at least $100,000 required by article 4717, R.S. 1925.

2. That its policies do not contain any of the following requirements prescribed by…