Tex. Ins. Code Section 423.104
Proof of Ownership of Securities

(a)

A domestic insurer may demonstrate ownership of a security through a definitive certificate or in accordance with rules adopted under this section.

(b)

The commissioner shall adopt rules under which a domestic insurer may demonstrate ownership of an uncertificated security, as defined by Section 8.102 (Definitions)(a), Business & Commerce Code, consistent with common practices of securities exchanges and markets. The rules must establish:

(1)

standards for the types of uncertificated securities the insurer may hold;

(2)

the manner in which the insurer may demonstrate ownership of the security; and

(3)

adequate financial safeguards relating to the ownership of uncertificated securities.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Source: Section 423.104 — Proof of Ownership of Securities, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­423.­htm#423.­104 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 423.104’s source at texas​.gov