Tex. Ins. Code § 841.204 · Subchapter E. CAPITAL AND SURPLUS
EXEMPTION FROM REQUIRED INCREASE OF CAPITAL AND SURPLUS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as otherwise provided by this chapter, a domestic insurance company that after September 1, 1991, had less than the minimum amount of capital and surplus required for a newly incorporated company under Section 841.054 may continue to transact the kinds of business for which it holds a certificate of authority.
(b) The insurance company shall immediately increase the amount of its capital to the required amount of capital under Section 841.054 if there is:
(1) a change in the control of at least 50 percent of the voting securities of the insurance company;
(2) a change in the control of at least 50 percent of the voting securities of a holding company controlling the insurance company; or
(3) a change in control of at least 50 percent by any other method of control if the insurance company or holding company is not controlled by voting securities.
(c) For purposes of Subsection (b), a transfer of ownership that occurs because of death, regardless of whether the decedent died testate or intestate, may not be considered a change in the control of an insurance company or holding company if ownership is transferred solely to one or more individuals, each of whom would be an heir of the decedent if the decedent had died intestate.
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 aeb7e5884d64588cec50c0698a0a24fb951b7d4b5f3a06fb65e895bc3fb7c02e
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 6 provisions
Provisions in this library whose text cites Tex. Ins. Code § 841.204. Each shows the citation as that text prints it.
Insurance Code
- Tex. Ins. Code § 882.201APPLICABILITY OF SUBCHAPTER.Printed as Sections 841.054, 841.204, 841.205, 841.301, and 841.302
- Tex. Ins. Code § 882.451APPLICABILITY OF CERTAIN PROVISIONS.Printed as Sections 841.054, 841.204, 841.205, 841.301, and 841.302
- Tex. Ins. Code § 882.701APPLICABILITY OF SUBCHAPTER.Printed as Sections 841.054, 841.204, 841.205, 841.301, and 841.302
- Tex. Ins. Code § 884.402ADDITIONAL COVERAGE.Printed as Sections 841.052, 841.054, 841.204, 841.205, 841.301, and 841.302
- Tex. Ins. Code § 885.453RESOLUTION TO CONVERT; ADDITIONAL REQUIREMENTS.Printed as Sections 841.054, 841.055, 841.056, 841.057, 841.204, 841.205, 841.301, and 841.302
- Tex. Ins. Code § 982.105CAPITAL STOCK AND SURPLUS REQUIREMENTS FOR LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES.Printed as Sections 841.054, 841.201, 841.204, 841.205, 841.207, 841.301, and 841.302
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.