Tex. Ins. Code § 942.155 · Subchapter D. OPERATION, POWERS, AND DUTIES OF EXCHANGE
FINANCIAL REQUIREMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An exchange shall maintain at all times an unencumbered surplus over and above all liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaged in the same kinds of business.
(b) An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business.
(c) An exchange shall maintain the required assets as to:
(1) minimum surplus requirements, as provided by Section 822.204; and
(2) other funds, as provided by the provisions of Subchapter B, Chapter 424, other than Sections 424.052, 424.072, and 424.073.
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.120, 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.942.htm
- Text hash
- sha256 471f14cc3a0ebf7c1bf027eb882a380d0515df307728b766e601dffba3d43908
- 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 § 942.155. Each shows the citation as that text prints it.
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.