Tex. Ins. Code § 862.154 · Subchapter D. IMPAIRMENT OF SURPLUS
CREATION AND DISPOSAL OF NEW STOCK.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A fire, marine, or inland marine insurance company that complies with Sections 822.155, 822.157, and 822.158 may:
(1) create new stock;
(2) dispose of the new stock according to applicable law; and
(3) issue new certificates for the new stock.
(b) The insurance company shall sell any new stock created under Subsection (a) for an amount sufficient to make up any impairment of the company's required minimum capital and to make up the surplus of the company as required by Section 822.054 or 822.210, subject to Subchapter B, Chapter 404, but may not impair the capital 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.071, 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.862.htm
- Text hash
- sha256 cb3678dfe01057be3ecfde43300292bc78e00fd6c6080e3005c045ec9f28655d
- 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. 404, subch. BIMPAIRMENT OF STOCK OR SURPLUSPrinted as Subchapter B, Chapter 404
- Tex. Ins. Code § 822.054CAPITAL STOCK AND SURPLUS REQUIREMENTS.Printed as Section 822.054 or 822.210
- Tex. Ins. Code § 822.155APPLICATION FOR AMENDMENT OF CHARTER.Printed as Sections 822.155, 822.157, and 822.158
- Tex. Ins. Code § 822.157ACTION BY COMMISSIONER AFTER FILING OF APPLICATION FOR CHARTER AMENDMENT.Printed as Sections 822.155, 822.157, and 822.158
- Tex. Ins. Code § 822.158DETERMINATION ON APPLICATION FOR CHARTER AMENDMENT.Printed as Sections 822.155, 822.157, and 822.158
- Tex. Ins. Code § 822.210COMMISSIONER MAY REQUIRE LARGER CAPITAL AND SURPLUS AMOUNTS.Printed as Section 822.054 or 822.210
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.