Tex. Ins. Code Section 982.106
Capital Stock and Surplus Requirements for Other Insurance Companies

(a)

This section applies only to a foreign or alien insurance company other than a life insurance company, accident insurance company, life and accident insurance company, health and accident insurance company, or life, health, and accident insurance company.

(b)

A foreign or alien insurance company is subject to Sections 822.203 (Capital Required Generally), 822.205 (Unencumbered Surplus or Guaranty Fund Requirements for Certain Insurance Companies), 822.210 (Commissioner May Require Larger Capital and Surplus Amounts), and 822.212 (Increase of Capital and Surplus). The department may not authorize a foreign or alien insurance company to engage in the business of insurance in this state unless the company has and maintains the minimum capital and surplus amounts as required by this code for companies organized under this code and engaging in the same kinds of business.

(c)

The department may not deny authorization for a foreign or alien insurance company to engage in the business of insurance in this state because all of the company’s capital stock has not been fully subscribed and paid for, if:

(1)

at least the minimum dollar amount of capital stock of the company required by the laws of this state, which may be less than all of the company’s authorized capital stock, has been subscribed and paid for; and

(2)

the company:

(A)

has at least the minimum dollar amount of surplus required by the laws of this state for the kinds of business the company seeks to write; and

(B)

has fully complied with the laws of the company’s domiciliary state or country relating to authorization and issuance of capital stock.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 982.106 — Capital Stock and Surplus Requirements for Other Insurance Companies, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­982.­htm#982.­106 (accessed Jun. 5, 2024).

982.001
Definitions 982.002
Applicability of Chapter 982.003
Life Insurance Companies Wanting to Loan Money 982.004
Financial Statements of Foreign or Alien Insurance Companies 982.051
Certificate of Authority Required for Life, Health, or Accident Companies 982.052
Certificate of Authority Required for Other Companies 982.101
Filing of Financial Statement by Life, Health, or Accident Insurance Company 982.102
Filing of Financial Statement by Other Insurance Company 982.103
Filing of Financial Statement by Alien Insurance Company 982.104
Filing of Articles of Incorporation 982.105
Capital Stock and Surplus Requirements for Life, Health, or Accident Insurance Companies 982.106
Capital Stock and Surplus Requirements for Other Insurance Companies 982.107
Applicability of Other Law 982.108
Deposit Requirements for Alien Insurance Company 982.109
Duration of Deposit by Life, Health, or Accident Insurance Companies 982.110
Duration of Deposit for Other Insurance Companies 982.111
Exception to Deposit Requirement: Trusteed Assets 982.112
Exception to Deposit Requirement: Deposit with Officer in Another State 982.113
Issuance of Certificate of Authority to Life, Health, or Accident Insurance Company 982.114
Payment of Tax by Foreign or Alien Life Insurance Company 982.201
Deed of Trust: General Provisions 982.202
Deed of Trust: Approval by Commissioner 982.203
Location of Trusteed Assets 982.204
Withdrawal of Trusteed Assets 982.251
Trusteed Surplus of Alien Insurance Company 982.252
Form and Contents of Financial Statement of Alien Insurance Company 982.253
Impairment of Trusteed Surplus 982.254
Failure to Eliminate Impairment of Trusteed Surplus 982.255
Examination of Alien Insurance Company 982.301
Applicability of Subchapter 982.302
Reinsurance Not Prohibited 982.303
Texas Law Accepted 982.304
Same or Deceptively Similar Name 982.305
Limitation on Actions in Other State Courts
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 982.106’s source at texas​.gov