Tex. Ins. Code § 984.101 · Subchapter C. DEPOSIT WITH COMPTROLLER
DEPOSIT WITH COMPTROLLER REQUIRED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A Mexican casualty insurance company shall deposit with the comptroller at least $25,000 in:
(1) United States currency; or
(2) securities that are:
(A) eligible for other casualty insurance companies authorized to engage in the business of insurance in this state; and
(B) approved by the department.
(b) The deposit shall be used to pay any lawful claim or final judgment against the company, including any claim or judgment for tax due to this state and any policy claim or other debt or obligation incurred in the course of the company's operations as provided by this chapter.
(c) The company shall periodically deposit additional currency or securities described by Subsection (a) as necessary to maintain a minimum total deposit of $25,000.
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.984.htm
- Text hash
- sha256 e3879545b4e8e0a4b412c1f9cd21e5be94fc1ac62c3afa67eb2c8b76a448e66b
- 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
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.