Tex. Ins. Code Section 942.155
Financial Requirements


(a)

An exchange shall maintain at all times an unencumbered surplus over and above all liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaged in the same kinds of business.

(b)

An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business.

(c)

An exchange shall maintain the required assets as to:

(1)

minimum surplus requirements, as provided by Section 822.204 (Form of Capital and Surplus); and

(2)

other funds, as provided by the provisions of Subchapter B, Chapter 424 (Investments for Certain Insurers), other than Sections 424.052 (Additional General Investment Authority), 424.072 (Authorized Investments: Bonds Issued, Assumed, or Guaranteed in International Market), and 424.073 (Authorized Investments: Insurer Engaged in Business in Foreign Country).
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.120, eff. April 1, 2009.

Source: Section 942.155 — Financial Requirements, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­942.­htm#942.­155 (accessed Apr. 13, 2024).

Accessed:
Apr. 13, 2024

§ 942.155’s source at texas​.gov