Tex. Ins. Code § 861.258 · Subchapter F. REGULATION OF GENERAL CASUALTY COMPANY
REAL PROPERTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A general casualty company is subject to Section 862.002 and may not purchase, hold, or convey real property except as authorized by that section.
(b) A general casualty company shall sell real property acquired in compliance with Subsection (a) not later than the 10th anniversary of the date the real property was acquired.
(c) A general casualty company may retain real property after the date specified by Subsection (b) if the commissioner issues a certificate stating:
(1) that sale of the real property in compliance with Subsection (b) would cause the company to incur a material loss; and
(2) a later date by which the real property must be sold.
(d) Subsection (b) does not apply to:
(1) real property occupied by buildings used in whole or in part by a general casualty company in the transaction of business;
(2) an interest in minerals or royalty reserved on the sale of real property acquired under Sections 862.002(c)(1)-(3); and
(3) investment real property acquired under Section 424.064.
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.066, 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 090a50a42ef9c0e48dc79b2d23e5c109f643c17413cb0613a5537cce147d174c
- 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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