Tex. Ins. Code § 982.108 · Subchapter C. REQUIREMENTS FOR CERTIFICATE OF AUTHORITY
DEPOSIT REQUIREMENTS FOR ALIEN INSURANCE COMPANY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
An alien insurance company may not engage in the business of insurance in this state without first depositing with the comptroller, for the benefit of the company's policyholders who are citizens or residents of the United States, bonds or securities of the United States or this state in an amount at least equal to:
(1) the minimum capital required to be maintained by a domestic stock insurer authorized to engage in the same kind of insurance; or
(2) one-half the minimum unencumbered surplus required to be maintained by a domestic mutual insurer authorized to engage in the same kind of insurance.
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.982.htm
- Text hash
- sha256 074da4bf6b2a92d5a4666958644fef4b53385bd9607889b08de71ce7051b072c
- 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
Cited by 4 provisions
Provisions in this library whose text cites Tex. Ins. Code § 982.108. Each shows the citation as that text prints it.
Insurance Code
- Tex. Ins. Code § 982.109DURATION OF DEPOSIT BY LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES.Printed as Section 982.108
- Tex. Ins. Code § 982.110DURATION OF DEPOSIT FOR OTHER INSURANCE COMPANIES.Printed as Section 982.108
- Tex. Ins. Code § 982.111EXCEPTION TO DEPOSIT REQUIREMENT: TRUSTEED ASSETS.Printed as Section 982.108
- Tex. Ins. Code § 982.112EXCEPTION TO DEPOSIT REQUIREMENT: DEPOSIT WITH OFFICER IN ANOTHER STATE.Printed as Section 982.108
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.