Tex. Ins. Code Section 883.163
Immediate Notification When Assets Are Insufficient; Examination

The president and the secretary of a mutual insurance company operating under the law providing for the incorporation of mutual fire, lightning, hail, and storm insurance companies shall immediately notify the commissioner any time the admitted assets of the company are less than the largest single risk for which the company is liable. The commissioner may make an examination into the affairs of the company as the commissioner considers best.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 883.163 — Immediate Notification When Assets Are Insufficient; Examination, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.883.htm#883.163 (accessed Jun. 5, 2024).

883.001
Definitions 883.002
Applicability of Certain General Laws 883.003
Applicability of Texas Non-profit Corporation Act 883.051
Formation of Company 883.052
Articles of Incorporation 883.053
Company’s Name 883.054
Location of Principal or Home Office 883.055
Beginning of Corporate Existence 883.056
Board of Directors 883.057
Membership of Public or Private Entities in Company Authorized 883.058
Membership Votes 883.101
Mutual Insurance Business 883.102
Charter and Certificate of Authority Required 883.103
Authorization of Foreign Mutual Insurance Company to Engage in Business 883.151
Authority to Write Certain Insurance 883.152
Prior Authority Not Affected 883.153
Policy Rates 883.154
Maximum Premiums 883.155
Issuance of Policy for Cash Premium Only 883.156
Assessment on Policyholders 883.157
Reinsurance of Policy 883.158
Requirements for Companies Writing Bonds 883.159
Necessary or Incidental Powers 883.160
Rights and Privileges of Certain Companies Retained 883.161
Dividends 883.162
Loans to Company 883.163
Immediate Notification When Assets Are Insufficient 883.201
Surplus Requirements 883.202
Required Deposit for Companies Writing Bonds 883.203
Reserves 883.204
Annual Report 883.205
Examination of Foreign Mutual Insurance Company 883.206
Fees 883.207
Premium Tax 883.701
Violation of Chapter 883.702
Failure to Report Condition 883.703
False Statement or Misappropriation 883.704
Unauthorized Mutual Fire Insurance

Accessed:
Jun. 5, 2024

§ 883.163’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._ins._code_section_883.163

Original Source: Section 883.163 — Immediate Notification When Assets Are Insufficient; Examination, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.883.htm#883.163 (last accessed Jun. 5, 2024).