Tex. Ins. Code § 423.104 · Subchapter C. TRANSACTIONS WITH OTHER ASSETS
PROOF OF OWNERSHIP OF SECURITIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A domestic insurer may demonstrate ownership of a security through a definitive certificate or in accordance with rules adopted under this section.
(b) The commissioner shall adopt rules under which a domestic insurer may demonstrate ownership of an uncertificated security, as defined by Section 8.102(a), Business & Commerce Code, consistent with common practices of securities exchanges and markets. The rules must establish:
(1) standards for the types of uncertificated securities the insurer may hold;
(2) the manner in which the insurer may demonstrate ownership of the security; and
(3) adequate financial safeguards relating to the ownership of uncertificated securities.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
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 96035f4242719907ef10ec315c23d6c1de3d3fc6d31e91aa165cd27c0d723e45
- 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
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Business & Commerce Code
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