Tex. Ins. Code § 425.228 · Subchapter D. AUTHORIZED INVESTMENTS AND TRANSACTIONS FOR OTHER LIFE, HEALTH, AND ACCIDENT INSURERS
INVESTMENTS OF CEDING INSURER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Subject to this section, if a domestic insurer assumes the business and takes over the assets of another domestic or a foreign insurer, all investments of the ceding insurer that were authorized, when made, by the laws of the state in which the ceding insurer was organized as proper securities for investment of the funds of an insurer and that are taken over by the assuming insurer are considered to be valid securities of the assuming insurer under the laws of this state.
(b) The commissioner must approve investments described by Subsection (a) and the terms on which those investments are taken over. The commissioner may require the assuming insurer to dispose of any of the investments on notice the commissioner considers reasonable.
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.425.htm
- Text hash
- sha256 5ca3f9b945aa253c4fe62c0168520bba21a303d4b7493bdd02f2f94bc6e301d6
- 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 4 provisions
Provisions in this library whose text cites Tex. Ins. Code § 425.228. Each shows the citation as that text prints it.
Insurance Code
- Tex. Ins. Code § 884.201FORM OF CAPITAL AND SURPLUS.Printed as Sections 425.203-425.228
- Tex. Ins. Code § 884.311LAW GOVERNING INVESTMENTS; ELECTION.Printed as Sections 425.203-425.228
- Tex. Ins. Code § 884.455REQUIRED SECURITIES.Printed as Sections 425.203-425.228
- Tex. Ins. Code § 885.408RESERVES FOR ACCIDENT AND HEALTH INSURANCE.Printed as Sections 425.203-425.228
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.