Tex. Ins. Code § 982.111 · Subchapter C. REQUIREMENTS FOR CERTIFICATE OF AUTHORITY
EXCEPTION TO DEPOSIT REQUIREMENT: TRUSTEED ASSETS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On approval by the commissioner as provided by Subchapter D, instead of making the deposit with the comptroller under Section 982.108, an authorized alien insurance company may deposit bonds or securities of the United States or this state with a trustee or trustees for the security of the company's policyholders in the United States.
(b) An alien insurance company shall maintain the deposit permitted by Subsection (a) as provided by Subchapter D.
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 9d06a170f0d34ed6b06ec5ebc4b00ab53d8bbf9ae382be7815fa146c7dbfc3f4
- 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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