Tex. Ins. Code § 941.204 · Subchapter E. FINANCIAL REQUIREMENTS
AUTHORIZED INVESTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The minimum guaranty fund and surplus required of a Lloyd's plan under Sections 822.054, 822.202, 822.210, 822.211, and 941.201 must be:
(1) in cash; or
(2) invested as provided by:
(A) Section 822.204; or
(B) any other law governing the investment of the capital stock and minimum surplus of a capital stock insurance company engaged in the same kind of business.
(b) Funds of a Lloyd's plan other than the minimum guaranty fund and surplus described by Subsection (a) must, if invested, be invested as provided by:
(1) the provisions of Subchapter B, Chapter 424, other than Sections 424.052, 424.072, and 424.073; or
(2) any other law governing the investment of the funds of a capital stock insurance company engaged in the same kind of business.
(c) A Lloyd's plan may purchase, hold, or convey real property in accordance with Section 862.002.
(d) A Lloyd's plan organized before August 10, 1943, and engaging in business under a certificate of authority issued by the former Board of Insurance Commissioners is not required to comply with this section except as to securities acquired on or after August 10, 1943, regardless of whether those securities were substituted for securities held before that date or were acquired from additional, successor, or substituted underwriters.
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.116, 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.941.htm
- Text hash
- sha256 154bd220d01707da12825d0b4343ae5ef492049c123d447ec62256bbb9f016dd
- 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 § 822.054CAPITAL STOCK AND SURPLUS REQUIREMENTS.Printed as Sections 822.054, 822.202, 822.210, 822.211, and 941.201
- Tex. Ins. Code § 822.202FULL COVERAGE AUTOMOBILE INSURANCE; DETERMINATION OF AMOUNTS.Printed as Sections 822.054, 822.202, 822.210, 822.211, and 941.201
- Tex. Ins. Code § 822.204FORM OF CAPITAL AND SURPLUS.Printed as Section 822.204
- Tex. Ins. Code § 822.210COMMISSIONER MAY REQUIRE LARGER CAPITAL AND SURPLUS AMOUNTS.Printed as Sections 822.054, 822.202, 822.210, 822.211, and 941.201
- Tex. Ins. Code § 822.211ACTION OF COMMISSIONER WHEN CAPITAL OR SURPLUS REQUIREMENTS NOT SATISFIED.Printed as Sections 822.054, 822.202, 822.210, 822.211, and 941.201
- Tex. Ins. Code § 862.002PROHIBITIONS RELATING TO HOLDING REAL PROPERTY; EXCEPTIONS.Printed as Section 862.002
- Tex. Ins. Code § 941.201REQUIRED NET ASSETS.Printed as Sections 822.054, 822.202, 822.210, 822.211, and 941.201
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.