Tex. Ins. Code § 423.004 · Subchapter A. GENERAL PROVISIONS
STATUTORY DEPOSITS WITH DEPARTMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by Subsection (c), notwithstanding any requirement under this code that an insurer deposit with the comptroller money or other assets for the security of an insurer's policyholders or creditors, including a deposit required by another state, an insurer may deposit the required money or other assets with the department in accordance with this section.
(b) A deposit authorized by Subsection (a):
(1) must be approved by the commissioner;
(2) is subject to any requirements applicable to the type of deposit;
(3) must be held under the commissioner's control; and
(4) may not be substituted or withdrawn by the insurer without the commissioner's approval.
(c) This section does not apply to any deposit made under Chapter 406 or a deposit of fees or taxes under this code.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 263 (S.B. 1427), Sec. 1, eff. September 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.423.htm
- Text hash
- sha256 fb1cd432eb04a6254aa8ad119a80b6facf17471e2c80a75b130342b5a44c3add
- 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
This section cites
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