Tex. Ins. Code § 882.306 · Subchapter G. UNENCUMBERED SURPLUS REQUIREMENTS
IMPAIRMENT OF UNENCUMBERED SURPLUS; APPOINTMENT OF RECEIVER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If one-half or more of a mutual life insurance company's unencumbered surplus as required by Section 882.301 is impaired, the commissioner may apply to a court for the appointment of a receiver to wind up the affairs of the company.
(b) In determining whether a company's surplus is impaired, the company shall compute its reserve liability in the manner provided by state law.
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.882.htm
- Text hash
- sha256 376f7ef2ea19b476bc86097312d7f80c74b8fec6122f6726c13c70491a88aaa9
- 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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