Tex. Ins. Code § 841.004 · Subchapter A. GENERAL PROVISIONS
NET ASSETS DEFINED; RULES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A company's "net assets" consist of the company's funds that are available for the payment of a company's obligations in this state, including:
(1) uncollected premiums that are not more than three months past due and deferred premiums on policies actually in force, after the deduction of:
(A) all unpaid losses and claims;
(B) all claims for losses; and
(C) all other debts, exclusive of capital stock; and
(2) if the total value of the equipment exceeds $2,000, the value of all electronic machines that comprise a data processing system or systems and of all other office equipment, furniture, machines, and labor-saving devices purchased for and used in connection with the business of the insurance company to the extent that the total actual cash market value of those assets is less than 10 percent of the other admitted assets of the company.
(b) The commissioner may adopt rules defining electronic machines and systems, office equipment, furniture, machines, and labor-saving devices described by Subsection (a) and stating the maximum period for which each class of equipment may be amortized.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.841.htm
- Text hash
- sha256 4d833fd9188048f76973c8dc7f8d379b4efb4120c7609d87c3f0979a19fc07e9
- 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 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 841.004. 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.