Tex.
Ins. Code Section 912.308
Amount and Investment of Surplus
(a)
A county mutual insurance company shall maintain an unencumbered surplus which may be invested only in items listed in Section 822.204 (Form of Capital and Surplus). The unencumbered surplus must be at least:(1)
$25,000, if the company is organized to write insurance coverage locally in only the county of its domicile;(2)
$50,000, if the company is organized to write insurance coverage in only the county of its domicile and any adjacent county; or(3)
an amount equal to the aggregate of the minimum capital and minimum surplus required under Sections 822.054 (Capital Stock and Surplus Requirements), 822.202 (Full Coverage Automobile Insurance; Determination of Amounts), 822.210 (Commissioner May Require Larger Capital and Surplus Amounts), and 822.211 (Action of Commissioner When Capital or Surplus Requirements Not Satisfied), for a fire insurance company if the county mutual insurance company is organized to write insurance coverage statewide.(b)
Except as provided by Section 912.056 (Creation of Local Chapters and Districts), a county mutual insurance company is subject to Subchapter B, Chapter 404 (Financial Condition), and Sections 822.203 (Capital Required Generally), 822.210 (Commissioner May Require Larger Capital and Surplus Amounts), and 822.212 (Increase of Capital and Surplus).
Source:
Section 912.308 — Amount and Investment of Surplus, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.912.htm#912.308 (accessed Jun. 5, 2024).
