Tex. Ins. Code § 861.251 · Subchapter F. REGULATION OF GENERAL CASUALTY COMPANY
MINIMUM CAPITAL AND SURPLUS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A general casualty company must have at least the minimum capital and surplus applicable to casualty, fidelity, guaranty, surety, and trust companies under Sections 822. 054, 822.210, and 822.211. At the time of incorporation, the required capital and surplus must be in cash.
(b) After incorporation and issuance of a certificate of authority, a general casualty company shall invest the minimum capital and surplus as provided by Section 822.204. The company shall invest all other funds of the company in excess of the minimum capital and surplus as provided by:
(1) a provision of Subchapter B, Chapter 424, other than Section 424.052, 424.072, or 424.073; and
(2) Section 862.002.
(c) A general casualty company may not loan any part of the company's capital or paid in surplus to an officer of the company.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.062, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.861.htm
- Text hash
- sha256 0a13f02d61125435f95f1d877d18a74863d210886a5d07c754ada95ea8434b81
- 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.
Insurance Code
- Tex. Ins. Code ch. 424, subch. BINVESTMENT OF FUNDS IN EXCESS OF MINIMUM CAPITAL AND SURPLUSPrinted as Subchapter B, Chapter 424
- Tex. Ins. Code § 424.052ADDITIONAL GENERAL INVESTMENT AUTHORITY.Printed as Section 424.052, 424.072, or 424.073
- Tex. Ins. Code § 424.072AUTHORIZED INVESTMENTS: BONDS ISSUED, ASSUMED, OR GUARANTEED IN INTERNATIONAL MARKET.Printed as Section 424.052, 424.072, or 424.073
- Tex. Ins. Code § 424.073AUTHORIZED INVESTMENTS: INSURER ENGAGED IN BUSINESS IN FOREIGN COUNTRY.Printed as Section 424.052, 424.072, or 424.073
- Tex. Ins. Code § 822.204FORM OF CAPITAL AND SURPLUS.Printed as Section 822.204
- Tex. Ins. Code § 862.002PROHIBITIONS RELATING TO HOLDING REAL PROPERTY; EXCEPTIONS.Printed as Section 862.002
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.