Tex. Ins. Code § 841.351 · Subchapter H. DEPOSIT OF SECURITIES
DEPOSIT WITH COMPTROLLER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A domestic insurance company may, at its option, deposit with the comptroller either:
(1) securities in which the company's capital stock is invested; or
(2) securities in an amount equal to the amount of the company's capital stock.
(b) Securities deposited under Subsection (a) must be securities of a class authorized by the laws of this state for investments of a domestic insurance company's capital stock.
(c) A domestic insurance company may, at its option, withdraw a deposit made under Subsection (a), or any portion of the deposit, after substituting a deposit of securities of a like class and of an amount and value equal to the withdrawn deposit or portion of deposit.
(d) The commissioner must first approve any securities deposited or being substituted under this section.
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 1903744b8f47b81eb2890fe08f516375619e66b17fe7a05de2659fe12114731c
- 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.