Tex. Ins. Code § 911.308 · Subchapter G. REGULATION OF FARM MUTUAL INSURANCE COMPANY; FINANCIAL REQUIREMENTS
SURPLUS REQUIREMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A farm mutual insurance company organized between January 1, 1955, and May 21, 1973, shall maintain an unencumbered surplus of $2 for each $100 of insurance in force or an unencumbered surplus of $200,000, whichever amount is less.
(b) A farm mutual insurance company organized under this chapter on or after May 21, 1973, shall maintain an unencumbered surplus in cash of $2 for each $100 of insurance in force or an unencumbered surplus of $200,000, whichever amount is greater.
(c) A company described by Subsection (b) shall invest the minimum unencumbered surplus as provided by Section 822.204. The company may invest funds in excess of the minimum unencumbered surplus as provided by the provisions of Subchapter B, Chapter 424, other than Sections 424.052, 424.072, and 424.073.
(d) A company described by Subsection (b) shall, without delay, restore the minimum unencumbered surplus if the surplus is impaired. The department shall proceed as provided by Subchapter B, Chapter 404.
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.108, 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.911.htm
- Text hash
- sha256 8d97b4cff9f3e1d399b8e78c86cdb39596308439f982db6ae36d3671ebc8f9d7
- 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 Sections 424.052, 424.072, and 424.073
- Tex. Ins. Code § 424.072AUTHORIZED INVESTMENTS: BONDS ISSUED, ASSUMED, OR GUARANTEED IN INTERNATIONAL MARKET.Printed as Sections 424.052, 424.072, and 424.073
- Tex. Ins. Code § 424.073AUTHORIZED INVESTMENTS: INSURER ENGAGED IN BUSINESS IN FOREIGN COUNTRY.Printed as Sections 424.052, 424.072, and 424.073
- Tex. Ins. Code § 822.204FORM OF CAPITAL AND SURPLUS.Printed as Section 822.204
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 911.308. Each shows the citation as that text prints it.
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