Tex. Ins. Code § 424.155 · Subchapter D. DOLLAR ROLL, REPURCHASE, REVERSE REPURCHASE, AND SECURITIES LENDING TRANSACTIONS
COLLATERAL REQUIREMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) While a transaction under this subchapter is outstanding, the insurer or the insurer's agent or custodian shall maintain, as to acceptable collateral received in the transaction, either physically or through the book-entry system of the Federal Reserve, Depository Trust Company, Participants Trust Company, or another securities depository approved by the commissioner:
(1) possession of the collateral;
(2) a perfected security interest in the collateral; or
(3) in the case of a jurisdiction outside of the United States, title to, or the rights of a secured creditor to, the collateral.
(b) The amount of collateral required for repurchase, reverse repurchase, and securities lending transactions is the amount required under the Purposes and Procedures Manual of the securities valuation office or a successor publication.
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.424.htm
- Text hash
- sha256 6d2e642fc45777d85042619816c0798e49e5cae3e82bbcd49cdf102cc88a4c80
- 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.