Tex. Ins. Code § 423.107 · Subchapter C. TRANSACTIONS WITH OTHER ASSETS
ASSETS DEPOSITED WITH CLEARING CORPORATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A domestic insurer may deposit assets with a clearing corporation only if:
(1) the insurer is a member of an insurance holding company system that has assets of at least $5 billion, as shown by annual statements of member insurers for the preceding year;
(2) the insurer uses the clearing corporation only as a depository for investments in internationally traded securities;
(3) the insurer's total investment in internationally traded securities under Subdivision (2) does not exceed the insurer's policyholders' surplus; and
(4) the insurer does not use securities deposited with the clearing corporation as security for reinsurance.
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 d9c0a40c006a59acf5c3611f32e63a8698734d749559c99f00706c56381cd042
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 423.107. Each shows the citation as that text prints it.
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.