Tex. Ins. Code § 201.005 · Subchapter A. GENERAL PROVISIONS
TRANSFER OF SECURITIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A transfer by the department of any security that is held in any way by the department is not valid unless the transfer is countersigned by the comptroller.
(b) The comptroller shall:
(1) countersign any security transfer presented by the department;
(2) keep a record of all transfers that includes:
(A) the name of the transferee, unless the security is transferred in blank; and
(B) a description of the security;
(3) when countersigning a security transfer, advise the company concerned by mail of the details of the transaction; and
(4) state, in the comptroller's annual report to the legislature, the countersigned transfers and the amount of the transfers.
(c) To verify the correctness of records:
(1) the department is entitled to free access to the comptroller's records kept under Subsection (b); and
(2) the comptroller is entitled to free access to the books and other department documents relating to securities held by the department.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.201.htm
- Text hash
- sha256 9c28c5488436d00d327620a2366796a8b1312ef85b133725444df746a54f9e84
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.