Tex. Ins. Code Section 404.051
Impairment Prohibited


(a)

The impairment of the capital stock of a stock insurance company is prohibited.

(b)

Impairment of the following surpluses in excess of that provided by Section 404.053 (Remedy for Impairment) is prohibited:

(1)

the surplus of a stock insurance company; or

(2)

the minimum required aggregate surplus of a:

(A)

mutual company;

(B)

Lloyd’s plan; or

(C)

reciprocal or interinsurance exchange.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Source: Section 404.051 — Impairment Prohibited, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­404.­htm#404.­051 (accessed Jun. 5, 2024).

Accessed:
Jun. 5, 2024

§ 404.051’s source at texas​.gov