Tex. Ins. Code § 427.052 · Subchapter B. LOAN, ADVANCE, AND OTHER INDEBTEDNESS
SUBORDINATED LIABILITY PERMITTED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An insurer or health maintenance organization may assume a subordinated liability for repayment of a loan or advance described by Section 427.051 and payment of interest on the loan or advance if the insurer or health maintenance organization and the creditor execute a written agreement stating that the creditor may be paid only out of that portion of the insurer's or health maintenance organization's surplus that exceeds the greater of:
(1) a minimum surplus amount set in the agreement; or
(2) a minimum surplus amount of $500,000.
(b) The department or commissioner may not require the agreement to provide a minimum surplus amount that is different from the amount described by this section.
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.427.htm
- Text hash
- sha256 8844343ccf78fc0437dc89b6aa2abd1d6d7f7b65c7fbfa52c56c2ea4329c68af
- 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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