Texas Statutes
Insurance Code
Title 4 - Regulation of Solvency

Section 401.004. Filing and Extensions for Filing of Audited Financial Report - Sec. 401.004. FILING AND EXTENSIONS FOR FILING OF AUDITED FINANCIAL...

Section 401.005. Alternative Filing for Canadian or British Insurers or Health Maintenance Organizations - Sec. 401.005. ALTERNATIVE FILING FOR CANADIAN OR BRITISH INSURERS OR...

Section 401.006. Exemption for Certain Small Insurers and Health Maintenance Organizations - Sec. 401.006. EXEMPTION FOR CERTAIN SMALL INSURERS AND HEALTH MAINTENANCE...

Section 401.007. Exemption for Certain Foreign or Alien Insurers or Health Maintenance Organizations - Sec. 401.007. EXEMPTION FOR CERTAIN FOREIGN OR ALIEN INSURERS OR...

Section 401.008. Hardship Exemption - Sec. 401.008. HARDSHIP EXEMPTION. (a) An insurer or health maintenance...

Section 401.009. Contents of Audited Financial Report - Sec. 401.009. CONTENTS OF AUDITED FINANCIAL REPORT. (a) An audited...

Section 401.010. Requirements for Financial Statements in Audited Financial Report - Sec. 401.010. REQUIREMENTS FOR FINANCIAL STATEMENTS IN AUDITED FINANCIAL REPORT....

Section 401.011. Qualifications of Accountant; Acceptance of Audited Financial Report - Sec. 401.011. QUALIFICATIONS OF ACCOUNTANT; ACCEPTANCE OF AUDITED FINANCIAL REPORT....

Section 401.012. Hearing on Accountant Qualifications; Replacement of Accountant - Sec. 401.012. HEARING ON ACCOUNTANT QUALIFICATIONS; REPLACEMENT OF ACCOUNTANT. The...

Section 401.013. Accountant's Letter of Qualifications - Sec. 401.013. ACCOUNTANT'S LETTER OF QUALIFICATIONS. (a) The audited financial...

Section 401.014. Registration of Accountant - Sec. 401.014. REGISTRATION OF ACCOUNTANT. (a) Not later than December...

Section 401.015. Resignation or Dismissal of Accountant; Statement Concerning Disagreements - Sec. 401.015. RESIGNATION OR DISMISSAL OF ACCOUNTANT; STATEMENT CONCERNING DISAGREEMENTS....

Section 401.016. Audited Combined or Consolidated Financial Statements - Sec. 401.016. AUDITED COMBINED OR CONSOLIDATED FINANCIAL STATEMENTS. (a) An...

Section 401.017. Notice of Adverse Financial Condition or Misstatement of Financial Condition - Sec. 401.017. NOTICE OF ADVERSE FINANCIAL CONDITION OR MISSTATEMENT OF...

Section 401.018. Information Discovered After Date of Audited Financial Report - Sec. 401.018. INFORMATION DISCOVERED AFTER DATE OF AUDITED FINANCIAL REPORT....

Section 401.019. Report on Significant Deficiencies in Internal Control - Sec. 401.019. REPORT ON SIGNIFICANT DEFICIENCIES IN INTERNAL CONTROL. (a)...

Section 401.020. Accountant Work Papers - Sec. 401.020. ACCOUNTANT WORK PAPERS. (a) In this section, "work...

Section 401.021. Penalty for Failure to Comply - Sec. 401.021. PENALTY FOR FAILURE TO COMPLY. (a) If an...

Subchapter B. Examination of Carriers

Section 401.051. Duty to Examine Carriers - Sec. 401.051. DUTY TO EXAMINE CARRIERS. (a) The department or...

Section 401.052. Frequency of Examination - Sec. 401.052. FREQUENCY OF EXAMINATION. (a) Subject to Subsection (b)...

Section 401.053. Examination Period - Sec. 401.053. EXAMINATION PERIOD. Unless the department requests that an...

Section 401.054. Powers Related to Examination - Sec. 401.054. POWERS RELATED TO EXAMINATION. The department or the...

Section 401.055. Effect of Subchapter on Authority to Use Information - Sec. 401.055. EFFECT OF SUBCHAPTER ON AUTHORITY TO USE INFORMATION....

Section 401.056. Rules Related to Reports and Hearings - Sec. 401.056. RULES RELATED TO REPORTS AND HEARINGS. The commissioner...

Section 401.057. Use of Audit and Work Papers - Sec. 401.057. USE OF AUDIT AND WORK PAPERS. (a) In...

Section 401.058. Confidentiality of Reports and Related Information - Sec. 401.058. CONFIDENTIALITY OF REPORTS AND RELATED INFORMATION. (a) A...

Section 401.059. Determination of Value - Sec. 401.059. DETERMINATION OF VALUE. In determining the value or...

Section 401.060. Right to Information Relating to Determination of Value or Market Value - Sec. 401.060. RIGHT TO INFORMATION RELATING TO DETERMINATION OF VALUE...

Section 401.061. Disciplinary Action for Failure to Comply With Subchapter - Sec. 401.061. DISCIPLINARY ACTION FOR FAILURE TO COMPLY WITH SUBCHAPTER....

Section 401.062. Stay of Rule, Order, Decision, or Finding - Sec. 401.062. STAY OF RULE, ORDER, DECISION, OR FINDING. The...

Subchapter C. Examiners and Actuaries

Section 401.101. Use of Department Examiner or Other Qualified Person or Firm - Sec. 401.101. USE OF DEPARTMENT EXAMINER OR OTHER QUALIFIED PERSON...

Section 401.102. Legislative Intent as to Appointment or Employment of Examiners and Actuaries - Sec. 401.102. LEGISLATIVE INTENT AS TO APPOINTMENT OR EMPLOYMENT OF...

Section 401.103. Appointment of Examiners and Actuaries - Sec. 401.103. APPOINTMENT OF EXAMINERS AND ACTUARIES. (a) The department...

Section 401.104. Appointment of Examiners, Actuaries, and Other Persons for Certain Examinations - Sec. 401.104. APPOINTMENT OF EXAMINERS, ACTUARIES, AND OTHER PERSONS FOR...

Section 401.105. Oath of Examiners and Assistants - Sec. 401.105. OATH OF EXAMINERS AND ASSISTANTS. Before entering into...

Section 401.106. Right of Action on Bond - Sec. 401.106. RIGHT OF ACTION ON BOND. If an examiner...

Section 401.107. Registration of Contract Examiners - Sec. 401.107. REGISTRATION OF CONTRACT EXAMINERS. (a) A person with...

Subchapter D. Examination Expenses

Section 401.151. Expenses of Examination of Domestic Insurer - Sec. 401.151. EXPENSES OF EXAMINATION OF DOMESTIC INSURER. (a) A...

Section 401.152. Expenses of Examination of Other Insurers - Sec. 401.152. EXPENSES OF EXAMINATION OF OTHER INSURERS. (a) An...

Section 401.153. Reimbursement of Expenses of Certain Persons or Firms - Sec. 401.153. REIMBURSEMENT OF EXPENSES OF CERTAIN PERSONS OR FIRMS....

Section 401.154. Tax Credit Authorized - Sec. 401.154. TAX CREDIT AUTHORIZED. (a) An insurer is entitled...

Section 401.155. Additional Assessments - Sec. 401.155. ADDITIONAL ASSESSMENTS. (a) The department shall impose additional...

Section 401.156. Deposit and Use of Assessment and Fee - Sec. 401.156. DEPOSIT AND USE OF ASSESSMENT AND FEE. (a)...

Subchapter E. Confidentiality of Certain Information

Section 401.201. Confidentiality of Early Warning System Information - Sec. 401.201. CONFIDENTIALITY OF EARLY WARNING SYSTEM INFORMATION. Information relating...

Subchapter F. Self-Directed Budget for Certain Divisions

Section 401.251. Definitions - Sec. 401.251. DEFINITIONS. In this subchapter: (1) "Actuarial division" means...

Section 401.252. Self-Directed Budget - Sec. 401.252. SELF-DIRECTED BUDGET. (a) The senior associate commissioner of...

Section 401.253. Audits - Sec. 401.253. AUDITS. This subchapter does not affect the duty...

Section 401.254. Records; Reporting Requirements - Sec. 401.254. RECORDS; REPORTING REQUIREMENTS. (a) The financial program shall...

Section 401.255. Membership in Employees Retirement System - Sec. 401.255. MEMBERSHIP IN EMPLOYEES RETIREMENT SYSTEM. Employees of the...

Chapter 402 - Disclosure of Material Transactions

Subchapter A. General Provisions

Section 402.001. Applicability of Chapter - Sec. 402.001. APPLICABILITY OF CHAPTER. (a) Except as provided by...

Section 402.002. General Reporting Requirements - Sec. 402.002. GENERAL REPORTING REQUIREMENTS. (a) An insurer or health...

Section 402.003. Exceptions to Reporting Requirements - Sec. 402.003. EXCEPTIONS TO REPORTING REQUIREMENTS. An insurer or health...

Section 402.004. Report Made on Nonconsolidated Basis - Sec. 402.004. REPORT MADE ON NONCONSOLIDATED BASIS. (a) An insurer...

Section 402.005. Confidentiality of Report - Sec. 402.005. CONFIDENTIALITY OF REPORT. (a) A report obtained by...

Subchapter B. Acquisition and Disposition of Assets

Section 402.051. Acquisitions and Dispositions Considered Material - Sec. 402.051. ACQUISITIONS AND DISPOSITIONS CONSIDERED MATERIAL. For purposes of...

Section 402.052. Acquisitions and Dispositions Subject to Chapter - Sec. 402.052. ACQUISITIONS AND DISPOSITIONS SUBJECT TO CHAPTER. (a) An...

Section 402.053. Content of Report Concerning Material Acquisitions and Dispositions - Sec. 402.053. CONTENT OF REPORT CONCERNING MATERIAL ACQUISITIONS AND DISPOSITIONS....

Subchapter C. Nonrenewal, Cancellation, and Revision

Section 402.101. Nonrenewals, Cancellations, and Revisions Considered Material - Sec. 402.101. NONRENEWALS, CANCELLATIONS, AND REVISIONS CONSIDERED MATERIAL. For purposes...

Section 402.102. Conditions Under Which Report Concerning Nonrenewal, Cancellation, or Revision Required - Sec. 402.102. CONDITIONS UNDER WHICH REPORT CONCERNING NONRENEWAL, CANCELLATION, OR...

Section 402.103. Conditions Under Which Report Concerning Nonrenewal, Cancellation, or Revision Not Required - Sec. 402.103. CONDITIONS UNDER WHICH REPORT CONCERNING NONRENEWAL, CANCELLATION, OR...

Section 402.104. Content of Report Concerning Material Nonrenewals, Cancellations, and Revisions - Sec. 402.104. CONTENT OF REPORT CONCERNING MATERIAL NONRENEWALS, CANCELLATIONS, AND...

Chapter 403 - Dividends

Subchapter A. Payment of Dividends

Section 403.001. Limitation on Dividends - Sec. 403.001. LIMITATION ON DIVIDENDS. An insurer organized under the...

Section 403.002. Dividends to Policyholders in Commercial Lines - Sec. 403.002. DIVIDENDS TO POLICYHOLDERS IN COMMERCIAL LINES. (a) An...

Subchapter B. Estimate of Profits

Section 403.051. Estimate of Profits - Sec. 403.051. ESTIMATE OF PROFITS. An insurer organized under the...

Section 403.052. Estimate of Profits of Certain Insurers - Sec. 403.052. ESTIMATE OF PROFITS OF CERTAIN INSURERS. A life,...

Section 403.053. Acquired Earned Surplus - Sec. 403.053. ACQUIRED EARNED SURPLUS. (a) This section applies only...

Subchapter C. Penalties

Section 403.101. Penalties - Sec. 403.101. PENALTIES. (a) The department may revoke the charter...

Section 403.102. Penalties for Certain Insurers - Sec. 403.102. PENALTIES FOR CERTAIN INSURERS. The department may revoke...

Chapter 404 - Financial Condition

Subchapter A. Hazardous Financial Condition

Section 404.001. Definition - Sec. 404.001. DEFINITION. In this subchapter, "insurer" includes: (1) a...

Section 404.002. Applicability of Subchapter - Sec. 404.002. APPLICABILITY OF SUBCHAPTER. This subchapter applies to a...

Section 404.003. Order to Remedy Condition - Sec. 404.003. ORDER TO REMEDY CONDITION. (a) If the financial...

Section 404.004. Construction With Law Relating to Capital and Surplus - Sec. 404.004. CONSTRUCTION WITH LAW RELATING TO CAPITAL AND SURPLUS....

Section 404.005. Standards and Criteria for Early Warning - Sec. 404.005. STANDARDS AND CRITERIA FOR EARLY WARNING. (a) The...

Section 404.006. Agreement With Another Jurisdiction - Sec. 404.006. AGREEMENT WITH ANOTHER JURISDICTION. The commissioner may enter...

Subchapter B. Impairment of Stock or Surplus

Section 404.051. Impairment Prohibited - Sec. 404.051. IMPAIRMENT PROHIBITED. (a) The impairment of the capital...

Section 404.052. Determination of Impairment - Sec. 404.052. DETERMINATION OF IMPAIRMENT. (a) When determining under this...

Section 404.053. Remedy for Impairment - Sec. 404.053. REMEDY FOR IMPAIRMENT. (a) The commissioner shall order...

Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions

Section 406.001. Definition - Sec. 406.001. DEFINITION. In this chapter, "insurer" includes: (1) a...

Section 406.002. Applicability of Chapter - Sec. 406.002. APPLICABILITY OF CHAPTER. This chapter applies to a...

Section 406.003. Required Deposit: Standards and Criteria - Sec. 406.003. REQUIRED DEPOSIT: STANDARDS AND CRITERIA. The commissioner, in...

Section 406.004. Required Deposit: Form of Security - Sec. 406.004. REQUIRED DEPOSIT: FORM OF SECURITY. A deposit required...

Section 406.005. Duration of Deposit - Sec. 406.005. DURATION OF DEPOSIT. Subject to Section 406.006, the...

Section 406.006. Substitution or Withdrawal of Deposit - Sec. 406.006. SUBSTITUTION OR WITHDRAWAL OF DEPOSIT. (a) An insurer...

Section 406.007. Appeal - Sec. 406.007. APPEAL. An insurer may appeal an action of...

Section 406.008. Cumulative of Other Deposits - Sec. 406.008. CUMULATIVE OF OTHER DEPOSITS. A deposit required to...

Subtitle B - Reserves and Investments

Chapter 421 - Reserves in General

Section 421.001. Reserves Required - Sec. 421.001. RESERVES REQUIRED. (a) An insurer shall maintain reserves...

Section 421.002. Certificates From Other States - Sec. 421.002. CERTIFICATES FROM OTHER STATES. In computing the reserve...

Chapter 422 - Asset Protection Act

Subchapter A. General Provisions

Section 422.001. Short Title - Sec. 422.001. SHORT TITLE. This chapter may be cited as...

Section 422.002. Purposes - Sec. 422.002. PURPOSES. (a) The purposes of this chapter are...

Section 422.003. Definitions - Sec. 422.003. DEFINITIONS. In this chapter: (1) "Asset" means any...

Section 422.004. Applicability of Chapter - Sec. 422.004. APPLICABILITY OF CHAPTER. This chapter applies to: (1)...

Section 422.005. Exemptions - Sec. 422.005. EXEMPTIONS. (a) This chapter does not apply to:...

Section 422.006. Conflict With Other Law - Sec. 422.006. CONFLICT WITH OTHER LAW. If this chapter conflicts...

Section 422.007. Rules - Sec. 422.007. RULES. The commissioner may adopt rules regarding the...

Subchapter B. Encumbrance of Assets

Section 422.051. Restrictions on Encumbrance of Assets - Sec. 422.051. RESTRICTIONS ON ENCUMBRANCE OF ASSETS. (a) An insurer...

Section 422.052. Report to Commissioner - Sec. 422.052. REPORT TO COMMISSIONER. (a) Not later than the...

Section 422.053. Claimant Lien on Certain Assets - Sec. 422.053. CLAIMANT LIEN ON CERTAIN ASSETS. (a) A person,...

Section 422.054. Preferential Claims on Liquidation - Sec. 422.054. PREFERENTIAL CLAIMS ON LIQUIDATION. If an insurer is...

Chapter 423 - Transactions With Money and Other Assets

Subchapter A. General Provisions

Section 423.001. Applicability of Chapter - Sec. 423.001. APPLICABILITY OF CHAPTER. (a) This chapter applies to...

Section 423.002. Ambiguities and Conflicts With Other Law - Sec. 423.002. AMBIGUITIES AND CONFLICTS WITH OTHER LAW. This chapter...

Section 423.003. Rules - Sec. 423.003. RULES. The commissioner may adopt rules necessary to...

Section 423.004. Statutory Deposits With Department - Sec. 423.004. STATUTORY DEPOSITS WITH DEPARTMENT. (a) Except as provided...

Subchapter B. Transactions With Money

Section 423.051. Deposit and Investment of Money - Sec. 423.051. DEPOSIT AND INVESTMENT OF MONEY. A director, member...

Section 423.052. Money Held in Pooling Account - Sec. 423.052. MONEY HELD IN POOLING ACCOUNT. (a) Only a...

Section 423.053. Authority to Deposit Money in Account of Reinsurer - Sec. 423.053. AUTHORITY TO DEPOSIT MONEY IN ACCOUNT OF REINSURER....

Subchapter C. Transactions With Other Assets

Section 423.101. Definition - Sec. 423.101. DEFINITION. In this subchapter, "clearing corporation" means: (1)...

Section 423.102. Deposit and Holding of Securities - Sec. 423.102. DEPOSIT AND HOLDING OF SECURITIES. (a) A domestic...

Section 423.103. Securities Held Under Custodial or Trust Agreement - Sec. 423.103. SECURITIES HELD UNDER CUSTODIAL OR TRUST AGREEMENT. A...

Section 423.104. Proof of Ownership of Securities - Sec. 423.104. PROOF OF OWNERSHIP OF SECURITIES. (a) A domestic...

Section 423.105. Mandatory Deposit of Securities; Commissioner Control - Sec. 423.105. MANDATORY DEPOSIT OF SECURITIES; COMMISSIONER CONTROL. (a) An...

Section 423.106. Required Evidence for Securities - Sec. 423.106. REQUIRED EVIDENCE FOR SECURITIES. (a) An insurer that...

Section 423.107. Assets Deposited With Clearing Corporation - Sec. 423.107. ASSETS DEPOSITED WITH CLEARING CORPORATION. A domestic insurer...

Section 423.108. Limitation on Assets Deposited With Clearing Corporation - Sec. 423.108. LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION. The...

Chapter 424 - Investments for Certain Insurers

Subchapter A. General Provisions

Section 424.001. Definitions - Sec. 424.001. DEFINITIONS. In this chapter: (1) "Insurer" means any...

Section 424.002. Inapplicability of Certain Law - Sec. 424.002. INAPPLICABILITY OF CERTAIN LAW. The definition of "state"...

Subchapter B. Investment of Funds in Excess

Section 424.051. General Investment Authority Specified by Law - Sec. 424.051. GENERAL INVESTMENT AUTHORITY SPECIFIED BY LAW. An insurer...

Section 424.052. Additional General Investment Authority - Sec. 424.052. ADDITIONAL GENERAL INVESTMENT AUTHORITY. An insurer may make...

Section 424.053. Limitation as to Single Issuer or Borrower - Sec. 424.053. LIMITATION AS TO SINGLE ISSUER OR BORROWER. (a)...

Section 424.054. Applicability of Percentage Authorizations and Limitations - Sec. 424.054. APPLICABILITY OF PERCENTAGE AUTHORIZATIONS AND LIMITATIONS. (a) The...

Section 424.055. Waiver by Commissioner of Quantitative Limitations - Sec. 424.055. WAIVER BY COMMISSIONER OF QUANTITATIVE LIMITATIONS. (a) Notwithstanding...

Section 424.056. Written Investment Plan - Sec. 424.056. WRITTEN INVESTMENT PLAN. (a) Each insurer's board of...

Section 424.057. Investment Records - Sec. 424.057. INVESTMENT RECORDS. An insurer shall maintain investment records...

Section 424.058. Authorized Investments: Form of Minimum Capital and Surplus - Sec. 424.058. AUTHORIZED INVESTMENTS: FORM OF MINIMUM CAPITAL AND SURPLUS....

Section 424.059. Authorized Investments: Government Obligations - Sec. 424.059. AUTHORIZED INVESTMENTS: GOVERNMENT OBLIGATIONS. An insurer may invest...

Section 424.060. Authorized Investments: Stock of National or State Bank - Sec. 424.060. AUTHORIZED INVESTMENTS: STOCK OF NATIONAL OR STATE BANK....

Section 424.061. Authorized Investments: Deposits in Certain Financial Institutions - Sec. 424.061. AUTHORIZED INVESTMENTS: DEPOSITS IN CERTAIN FINANCIAL INSTITUTIONS. (a)...

Section 424.062. Authorized Investments: Certain Obligations of Partnership or Corporation - Sec. 424.062. AUTHORIZED INVESTMENTS: CERTAIN OBLIGATIONS OF PARTNERSHIP OR CORPORATION....

Section 424.064. Authorized Investments: Real Property - Sec. 424.064. AUTHORIZED INVESTMENTS: REAL PROPERTY. (a) Subject to this...

Section 424.065. Acting as Real Estate Broker or Salesperson Prohibited - Sec. 424.065. ACTING AS REAL ESTATE BROKER OR SALESPERSON PROHIBITED....

Section 424.066. Authorized Investments: Obligations Secured by Real Property Loans - Sec. 424.066. AUTHORIZED INVESTMENTS: OBLIGATIONS SECURED BY REAL PROPERTY LOANS....

Section 424.067. Authorized Investments: Transportation Equipment - Sec. 424.067. AUTHORIZED INVESTMENTS: TRANSPORTATION EQUIPMENT. An insurer may invest...

Section 424.068. Authorized Investments: Investment in Foreign Jurisdiction - Sec. 424.068. AUTHORIZED INVESTMENTS: INVESTMENT IN FOREIGN JURISDICTION. (a) In...

Section 424.069. Authorized Investments: Certain Loans - Sec. 424.069. AUTHORIZED INVESTMENTS: CERTAIN LOANS. An insurer may invest...

Section 424.070. Authorized Investments: Obligations of Local Governmental Entities - Sec. 424.070. AUTHORIZED INVESTMENTS: OBLIGATIONS OF LOCAL GOVERNMENTAL ENTITIES. (a)...

Section 424.071. Authorized Investments: the University of Texas - Sec. 424.071. AUTHORIZED INVESTMENTS: THE UNIVERSITY OF TEXAS. An insurer...

Section 424.072. Authorized Investments: Bonds Issued, Assumed, or Guaranteed in International Market - Sec. 424.072. AUTHORIZED INVESTMENTS: BONDS ISSUED, ASSUMED, OR GUARANTEED IN...

Section 424.073. Authorized Investments: Insurer Engaged in Business in Foreign Country - Sec. 424.073. AUTHORIZED INVESTMENTS: INSURER ENGAGED IN BUSINESS IN FOREIGN...

Section 424.074. Other Specifically Authorized Investments - Sec. 424.074. OTHER SPECIFICALLY AUTHORIZED INVESTMENTS. An insurer may invest...

Subchapter C. Investment Pools

Section 424.101. Definitions - Sec. 424.101. DEFINITIONS. In this subchapter: (1) "Business entity" means...

Section 424.102. Authority to Invest in Pool - Sec. 424.102. AUTHORITY TO INVEST IN POOL. An insurer may...

Section 424.103. Investment Pool Requirements and Qualifications - Sec. 424.103. INVESTMENT POOL REQUIREMENTS AND QUALIFICATIONS. (a) An investment...

Section 424.104. Authorized Investments for Short-Term Investment Pool - Sec. 424.104. AUTHORIZED INVESTMENTS FOR SHORT-TERM INVESTMENT POOL. A short-term...

Section 424.105. Short-Term Investment Pool: Certain Short-Term Obligations - Sec. 424.105. SHORT-TERM INVESTMENT POOL: CERTAIN SHORT-TERM OBLIGATIONS. (a) Obligations...

Section 424.107. Authorized Investments for Authorized Investment Pool; Limitation - Sec. 424.107. AUTHORIZED INVESTMENTS FOR AUTHORIZED INVESTMENT POOL; LIMITATION. (a)...

Section 424.108. General Insurer Investment Limitations - Sec. 424.108. GENERAL INSURER INVESTMENT LIMITATIONS. An insurer may not...

Section 424.109. Designation of Pool Manager; Qualifications - Sec. 424.109. DESIGNATION OF POOL MANAGER; QUALIFICATIONS. (a) The pooling...

Section 424.110. Pool Manager to Maintain Assets; Custody Agreement - Sec. 424.110. POOL MANAGER TO MAINTAIN ASSETS; CUSTODY AGREEMENT. (a)...

Section 424.111. Pooling Agreement Provisions - Sec. 424.111. POOLING AGREEMENT PROVISIONS. The pooling agreement for an...

Section 424.112. Withdrawals and Distributions - Sec. 424.112. WITHDRAWALS AND DISTRIBUTIONS. (a) A pool participant must...

Section 424.113. Investment Pool Records - Sec. 424.113. INVESTMENT POOL RECORDS. The pool manager shall compile...

Section 424.114. Inspection of Records - Sec. 424.114. INSPECTION OF RECORDS. The pool manager shall make...

Section 424.115. Reports of Transactions Between Pool and Participant - Sec. 424.115. REPORTS OF TRANSACTIONS BETWEEN POOL AND PARTICIPANT. (a)...

Subchapter D. Dollar Roll, Repurchase, Reverse Repurchase,

Section 424.151. Definitions - Sec. 424.151. DEFINITIONS. In this subchapter: (1) "Dollar roll transaction"...

Section 424.152. Transactions Authorized - Sec. 424.152. TRANSACTIONS AUTHORIZED. An insurer may engage in dollar...

Section 424.153. Period of Transaction - Sec. 424.153. PERIOD OF TRANSACTION. An insurer must enter into...

Section 424.154. Cash Requirements - Sec. 424.154. CASH REQUIREMENTS. With respect to cash received in...

Section 424.155. Collateral Requirements - Sec. 424.155. COLLATERAL REQUIREMENTS. (a) While a transaction under this...

Section 424.156. Percentage Limitations - Sec. 424.156. PERCENTAGE LIMITATIONS. (a) An insurer may not enter...

Section 424.157. Rules - Sec. 424.157. RULES. The commissioner may adopt reasonable rules and...

Subchapter E. Risk Control Transactions

Section 424.201. Definitions - Sec. 424.201. DEFINITIONS. In this subchapter: (1) "Acceptable collateral" means:...

Section 424.202. Risk Control Transactions Authorized - Sec. 424.202. RISK CONTROL TRANSACTIONS AUTHORIZED. (a) Except as provided...

Section 424.203. Notice of Intent to Engage in Risk Control Transactions Required - Sec. 424.203. NOTICE OF INTENT TO ENGAGE IN RISK CONTROL...

Section 424.204. Trading Requirements for Derivative Instruments - Sec. 424.204. TRADING REQUIREMENTS FOR DERIVATIVE INSTRUMENTS. Each derivative instrument...

Section 424.205. Derivative Use Plan - Sec. 424.205. DERIVATIVE USE PLAN. (a) Before an insurer enters...

Section 424.206. Internal Control Procedures - Sec. 424.206. INTERNAL CONTROL PROCEDURES. An insurer that enters into...

Section 424.207. Ability to Demonstrate Hedging Characteristics and Effectiveness - Sec. 424.207. ABILITY TO DEMONSTRATE HEDGING CHARACTERISTICS AND EFFECTIVENESS. An...

Section 424.208. Offsetting Transactions - Sec. 424.208. OFFSETTING TRANSACTIONS. (a) Subject to this section, an...

Section 424.209. Inclusion of Counterparty Exposure Amounts - Sec. 424.209. INCLUSION OF COUNTERPARTY EXPOSURE AMOUNTS. The insurer shall...

Section 424.210. Oversight by Commissioner - Sec. 424.210. OVERSIGHT BY COMMISSIONER. (a) Not later than the...

Section 424.211. Authority to Enter Into Hedging Transaction - Sec. 424.211. AUTHORITY TO ENTER INTO HEDGING TRANSACTION. After providing...

Section 424.212. Authority to Enter Into Income Generation Transaction - Sec. 424.212. AUTHORITY TO ENTER INTO INCOME GENERATION TRANSACTION. An...

Section 424.213. Limitation on Sale of Call Option on Assets - Sec. 424.213. LIMITATION ON SALE OF CALL OPTION ON ASSETS....

Section 424.214. Limitation on Sale of Put Option on Assets - Sec. 424.214. LIMITATION ON SALE OF PUT OPTION ON ASSETS....

Section 424.215. Limitation on Sale of Call Option on Derivative Instrument - Sec. 424.215. LIMITATION ON SALE OF CALL OPTION ON DERIVATIVE...

Section 424.216. Limitation on Sale of Cap or Floor - Sec. 424.216. LIMITATION ON SALE OF CAP OR FLOOR. If...

Section 424.217. Authority to Enter Replication Transaction - Sec. 424.217. AUTHORITY TO ENTER REPLICATION TRANSACTION. (a) An insurer...

Section 424.218. Rules - Sec. 424.218. RULES. The commissioner may adopt rules consistent with...

Chapter 425 - Reserves and Investments for Life Insurance Companies and Related Entities

Subchapter A. General Provisions

Section 425.001. Securities in Amount of Reserves Required - Sec. 425.001. SECURITIES IN AMOUNT OF RESERVES REQUIRED. The commissioner,...

Section 425.002. Certain Insurers: Deposit of Securities, Money, or Property in Amount of Legal Reserves - Sec. 425.002. CERTAIN INSURERS: DEPOSIT OF SECURITIES, MONEY, OR PROPERTY...

Section 425.003. Certain Insurers: Required Deposits of Securities; Additional Deposits and Withdrawals - Sec. 425.003. CERTAIN INSURERS: REQUIRED DEPOSITS OF SECURITIES; ADDITIONAL DEPOSITS...

Section 425.004. Records of Securities Deposited With Department; Report of Value - Sec. 425.004. RECORDS OF SECURITIES DEPOSITED WITH DEPARTMENT; REPORT OF...

Section 425.005. Department Duties Regarding Deposited Securities; Insurance Company Access - Sec. 425.005. DEPARTMENT DUTIES REGARDING DEPOSITED SECURITIES; INSURANCE COMPANY ACCESS....

Section 425.006. Additional Reserves Required: Substandard or Extra Hazardous Policies - Sec. 425.006. ADDITIONAL RESERVES REQUIRED: SUBSTANDARD OR EXTRA HAZARDOUS POLICIES....

Section 425.007. Subscription to or Underwriting Purchase or Sale of Securities or Property Prohibited; Control of Disposition of Property - Sec. 425.007. SUBSCRIPTION TO OR UNDERWRITING PURCHASE OR SALE OF...

Section 425.008. Authorized Investments for Foreign Companies - Sec. 425.008. AUTHORIZED INVESTMENTS FOR FOREIGN COMPANIES. A foreign company...

Section 425.009. Student Loans - Sec. 425.009. STUDENT LOANS. A foreign or domestic life insurance...

Subchapter B. Standard Valuation Law

Section 425.051. Short Title - Sec. 425.051. SHORT TITLE. This subchapter may be cited as...

Section 425.052. Definitions - Sec. 425.052. DEFINITIONS. (a) In this subchapter: (1) "Accident and...

Section 425.053. Annual Valuation of Reserves for Policies and Contracts Issued Before Operative Date of Valuation Manual - Sec. 425.053. ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS...

Section 425.0535. Annual Valuation of Reserves for Policies and Contracts Issued on or After Operative Date of Valuation Manual - Sec. 425.0535. ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS...

Section 425.054. Actuarial Opinion of Reserves Issued Before Operative Date of Valuation Manual - Sec. 425.054. ACTUARIAL OPINION OF RESERVES ISSUED BEFORE OPERATIVE DATE...

Section 425.0545. Actuarial Opinion of Reserves After Operative Date of Valuation Manual - Sec. 425.0545. ACTUARIAL OPINION OF RESERVES AFTER OPERATIVE DATE OF...

Section 425.055. Supporting Memorandum for Actuarial Opinion - Sec. 425.055. SUPPORTING MEMORANDUM FOR ACTUARIAL OPINION. (a) A memorandum...

Section 425.056. Limitation on Liability for Actuarial Opinion - Sec. 425.056. LIMITATION ON LIABILITY FOR ACTUARIAL OPINION. (a) Except...

Section 425.057. Disciplinary Action: Company or Person Certifying Opinion - Sec. 425.057. DISCIPLINARY ACTION: COMPANY OR PERSON CERTIFYING OPINION. A...

Section 425.058. Computation of Minimum Standard: General Rule - Sec. 425.058. COMPUTATION OF MINIMUM STANDARD: GENERAL RULE. (a) Except...

Section 425.059. Computation of Minimum Standard for Certain Annuities and Pure Endowment Contracts - Sec. 425.059. COMPUTATION OF MINIMUM STANDARD FOR CERTAIN ANNUITIES AND...

Section 425.060. Applicability of Calendar Year Statutory Valuation Interest Rates - Sec. 425.060. APPLICABILITY OF CALENDAR YEAR STATUTORY VALUATION INTEREST RATES....

Section 425.061. Computation of Calendar Year Statutory Valuation Interest Rate: General Rule - Sec. 425.061. COMPUTATION OF CALENDAR YEAR STATUTORY VALUATION INTEREST RATE:...

Section 425.062. Weighting Factors - Sec. 425.062. WEIGHTING FACTORS. (a) This section prescribes the weighting...

Section 425.063. Reference Interest Rate - Sec. 425.063. REFERENCE INTEREST RATE. (a) In this section, "Moody's...

Section 425.064. Commissioners Reserve Valuation Method for Life Insurance and Endowment Benefits - Sec. 425.064. COMMISSIONERS RESERVE VALUATION METHOD FOR LIFE INSURANCE AND...

Section 425.065. Commissioners Annuity Reserve Valuation Method for Annuity and Pure Endowment Benefits - Sec. 425.065. COMMISSIONERS ANNUITY RESERVE VALUATION METHOD FOR ANNUITY AND...

Section 425.066. Minimum Aggregate Reserves - Sec. 425.066. MINIMUM AGGREGATE RESERVES. (a) An insurance company's aggregate...

Section 425.067. Optional Reserve Computations - Sec. 425.067. OPTIONAL RESERVE COMPUTATIONS. (a) Reserves for a policy...

Section 425.068. Reserve Computation: Gross Premium Charged Less Than Valuation Net Premium - Sec. 425.068. RESERVE COMPUTATION: GROSS PREMIUM CHARGED LESS THAN VALUATION...

Section 425.069. Reserve Computation: Indeterminate Premium Plans and Certain Other Plans - Sec. 425.069. RESERVE COMPUTATION: INDETERMINATE PREMIUM PLANS AND CERTAIN OTHER...

Section 425.070. Computation of Reserve for Certain Policies by Calendar Year of Issue - Sec. 425.070. COMPUTATION OF RESERVE FOR CERTAIN POLICIES BY CALENDAR...

Section 425.071. Lapse Rates in Minimum Standard of Valuation - Sec. 425.071. LAPSE RATES IN MINIMUM STANDARD OF VALUATION. (a)...

Section 425.072. Minimum Standard for Accident and Health Insurance Contracts - Sec. 425.072. MINIMUM STANDARD FOR ACCIDENT AND HEALTH INSURANCE CONTRACTS....

Section 425.073. Valuation Manual for Policies Issued on or After the Operative Date of the Valuation Manual - Sec. 425.073. VALUATION MANUAL FOR POLICIES ISSUED ON OR AFTER...

Section 425.074. Requirements of a Principle-Based Valuation - Sec. 425.074. REQUIREMENTS OF A PRINCIPLE-BASED VALUATION. (a) A company...

Section 425.075. Experience Reporting for Policies in Force on or After Operative Date of Valuation Manual - Sec. 425.075. EXPERIENCE REPORTING FOR POLICIES IN FORCE ON OR...

Section 425.076. Confidentiality - Sec. 425.076. CONFIDENTIALITY. (a) In this section, "confidential information" means:...

Section 425.077. Single State Exemption - Sec. 425.077. SINGLE STATE EXEMPTION. The commissioner may exempt specific...

Subchapter C. Authorized Investments and Transactions for Capital Stock Life, Health, and Accident Insurers

Section 425.101. Definitions - Sec. 425.101. DEFINITIONS. In this subchapter: (1) "Assets" means the...

Section 425.102. Inapplicability of Certain Law - Sec. 425.102. INAPPLICABILITY OF CERTAIN LAW. The definition of "state"...

Section 425.103. Applicability of Subchapter - Sec. 425.103. APPLICABILITY OF SUBCHAPTER. (a) This subchapter and rules...

Section 425.104. Purpose - Sec. 425.104. PURPOSE. The purpose of this subchapter is to...

Section 425.105. Written Investment Plan - Sec. 425.105. WRITTEN INVESTMENT PLAN. (a) Each insurance company's board...

Section 425.106. Investment Records; Demonstration of Compliance - Sec. 425.106. INVESTMENT RECORDS; DEMONSTRATION OF COMPLIANCE. An insurance company...

Section 425.108. Authorized Investments and Transactions in General - Sec. 425.108. AUTHORIZED INVESTMENTS AND TRANSACTIONS IN GENERAL. (a) Subject...

Section 425.109. Authorized Investments: Government Obligations - Sec. 425.109. AUTHORIZED INVESTMENTS: GOVERNMENT OBLIGATIONS. (a) An insurance company...

Section 425.110. Authorized Investments: Obligations of and Other Investments in Business Entities - Sec. 425.110. AUTHORIZED INVESTMENTS: OBLIGATIONS OF AND OTHER INVESTMENTS IN...

Section 425.111. Authorized Investments: Bonds Issued, Assumed, or Guaranteed in International Market - Sec. 425.111. AUTHORIZED INVESTMENTS: BONDS ISSUED, ASSUMED, OR GUARANTEED IN...

Section 425.112. Authorized Investments: Policy Loans - Sec. 425.112. AUTHORIZED INVESTMENTS: POLICY LOANS. An insurance company may...

Section 425.113. Authorized Investments: Deposits in Certain Financial Institutions - Sec. 425.113. AUTHORIZED INVESTMENTS: DEPOSITS IN CERTAIN FINANCIAL INSTITUTIONS. (a)...

Section 425.114. Authorized Investments: Insurance Company Investment Pools - Sec. 425.114. AUTHORIZED INVESTMENTS: INSURANCE COMPANY INVESTMENT POOLS. (a) In...

Section 425.115. Authorized Investments: Equity Interests - Sec. 425.115. AUTHORIZED INVESTMENTS: EQUITY INTERESTS. (a) In this section,...

Section 425.116. Authorized Investments: Preferred Stock - Sec. 425.116. AUTHORIZED INVESTMENTS: PREFERRED STOCK. (a) Subject to this...

Section 425.117. Authorized Investments: Collateral Loans - Sec. 425.117. AUTHORIZED INVESTMENTS: COLLATERAL LOANS. (a) Subject to this...

Section 425.118. Authorized Investments: Obligations Secured by Real Property Loans - Sec. 425.118. AUTHORIZED INVESTMENTS: OBLIGATIONS SECURED BY REAL PROPERTY LOANS....

Section 425.1185. Authorized Investments: Mezzanine Real Estate Loans - Sec. 425.1185. AUTHORIZED INVESTMENTS: MEZZANINE REAL ESTATE LOANS. (a) In...

Section 425.119. Authorized Investments: Real Property - Sec. 425.119. AUTHORIZED INVESTMENTS: REAL PROPERTY. (a) Subject to this...

Section 425.120. Authorized Investments: Oil, Gas, and Minerals - Sec. 425.120. AUTHORIZED INVESTMENTS: OIL, GAS, AND MINERALS. (a) In...

Section 425.121. Authorized Investments: Securities Lending, Repurchase, Reverse Repurchase, and Dollar Roll Transactions - Sec. 425.121. AUTHORIZED INVESTMENTS: SECURITIES LENDING, REPURCHASE, REVERSE REPURCHASE, AND...

Section 425.122. Authorized Investments: Premium Loans - Sec. 425.122. AUTHORIZED INVESTMENTS: PREMIUM LOANS. (a) Subject to Subsection...

Section 425.123. Authorized Investments: Money Market Funds - Sec. 425.123. AUTHORIZED INVESTMENTS: MONEY MARKET FUNDS. (a) An insurance...

Section 425.124. Authorized Investments: Risk Control Transactions - Sec. 425.124. AUTHORIZED INVESTMENTS: RISK CONTROL TRANSACTIONS. Subject to Sections...

Section 425.125. Risk Control Transactions: Definitions - Sec. 425.125. RISK CONTROL TRANSACTIONS: DEFINITIONS. In Sections 425.124-425.132: (1)...

Section 425.126. Risk Control Transactions: Derivative Use Plan - Sec. 425.126. RISK CONTROL TRANSACTIONS: DERIVATIVE USE PLAN. (a) Before...

Section 425.127. Risk Control Transactions: Internal Control Procedures - Sec. 425.127. RISK CONTROL TRANSACTIONS: INTERNAL CONTROL PROCEDURES. An insurance...

Section 425.128. Risk Control Transactions: Oversight by Commissioner - Sec. 425.128. RISK CONTROL TRANSACTIONS: OVERSIGHT BY COMMISSIONER. (a) An...

Section 425.129. Risk Control Transactions: Limitations on Income Generation Transactions - Sec. 425.129. RISK CONTROL TRANSACTIONS: LIMITATIONS ON INCOME GENERATION TRANSACTIONS....

Section 425.130. Risk Control Transactions: Limitations on Replication Transactions - Sec. 425.130. RISK CONTROL TRANSACTIONS: LIMITATIONS ON REPLICATION TRANSACTIONS. (a)...

Section 425.131. Risk Control Transactions: Trading Requirements - Sec. 425.131. RISK CONTROL TRANSACTIONS: TRADING REQUIREMENTS. For purposes of...

Section 425.132. Risk Control Transactions: Offsetting Transactions - Sec. 425.132. RISK CONTROL TRANSACTIONS: OFFSETTING TRANSACTIONS. (a) Subject to...

Section 425.151. Authorized Investments: Foreign Countries and United States Territories - Sec. 425.151. AUTHORIZED INVESTMENTS: FOREIGN COUNTRIES AND UNITED STATES TERRITORIES....

Section 425.152. Authorized Investments: Investments Not Otherwise Specified or Prohibited; Investments Authorized by Other Law - Sec. 425.152. AUTHORIZED INVESTMENTS: INVESTMENTS NOT OTHERWISE SPECIFIED OR PROHIBITED;...

Section 425.153. Authorized Investments: Certain Previously Authorized Investments - Sec. 425.153. AUTHORIZED INVESTMENTS: CERTAIN PREVIOUSLY AUTHORIZED INVESTMENTS. (a) An...

Section 425.154. Applicability of Percentage Authorizations and Limitations - Sec. 425.154. APPLICABILITY OF PERCENTAGE AUTHORIZATIONS AND LIMITATIONS. The percentage...

Section 425.155. Qualification of Investments - Sec. 425.155. QUALIFICATION OF INVESTMENTS. (a) The qualification or disqualification...

Section 425.156. Distributions, Reinsurance, and Merger - Sec. 425.156. DISTRIBUTIONS, REINSURANCE, AND MERGER. (a) This subchapter does...

Section 425.157. Aggregate Diversification Requirements - Sec. 425.157. AGGREGATE DIVERSIFICATION REQUIREMENTS. (a) This section takes precedence...

Section 425.158. Waiver by Commissioner of Quantitative Limitations - Sec. 425.158. WAIVER BY COMMISSIONER OF QUANTITATIVE LIMITATIONS. (a) The...

Section 425.159. Accounting Provisions - Sec. 425.159. ACCOUNTING PROVISIONS. (a) Each insurance company shall maintain...

Section 425.160. Investments of Ceding Insurers - Sec. 425.160. INVESTMENTS OF CEDING INSURERS. (a) Subject to this...

Section 425.161. Acting as Real Estate Broker or Salesperson Prohibited - Sec. 425.161. ACTING AS REAL ESTATE BROKER OR SALESPERSON PROHIBITED....

Section 425.162. Rules - Sec. 425.162. RULES. The commissioner may adopt rules, minimum standards,...

Subchapter D. Authorized Investments and Transactions for Other Life, Health, and Accident Insurers

Section 425.201. Definition - Sec. 425.201. DEFINITION. In this subchapter, "contingency funds" means an...

Section 425.202. Applicability of Subchapter - Sec. 425.202. APPLICABILITY OF SUBCHAPTER. This subchapter applies only to...

Section 425.203. Limitation on Funds and Other Assets - Sec. 425.203. LIMITATION ON FUNDS AND OTHER ASSETS. (a) An...

Section 425.204. Approval of Investments and Loans Required - Sec. 425.204. APPROVAL OF INVESTMENTS AND LOANS REQUIRED. (a) An...

Section 425.205. Authorized Investments for All Funds: Government Bonds - Sec. 425.205. AUTHORIZED INVESTMENTS FOR ALL FUNDS: GOVERNMENT BONDS. (a)...

Section 425.206. Authorized Investments for All Funds: Corporate Bonds, Notes, and Debentures - Sec. 425.206. AUTHORIZED INVESTMENTS FOR ALL FUNDS: CORPORATE BONDS, NOTES,...

Section 425.2061. Authorized Investments for All Funds: Bond Exchange-Traded Funds - Sec. 425.2061. AUTHORIZED INVESTMENTS FOR ALL FUNDS: BOND EXCHANGE-TRADED FUNDS....

Section 425.207. Authorized Investments for All Funds: Shares of Savings and Loan Associations - Sec. 425.207. AUTHORIZED INVESTMENTS FOR ALL FUNDS: SHARES OF SAVINGS...

Section 425.208. Authorized Investments for All Funds: Bank and Bank Holding Company Stocks - Sec. 425.208. AUTHORIZED INVESTMENTS FOR ALL FUNDS: BANK AND BANK...

Section 425.209. Authorized Investments for All Funds: Debentures of Public Utility Corporations - Sec. 425.209. AUTHORIZED INVESTMENTS FOR ALL FUNDS: DEBENTURES OF PUBLIC...

Section 425.210. Authorized Investments for All Funds: Preferred Stock of Public Utility Corporations - Sec. 425.210. AUTHORIZED INVESTMENTS FOR ALL FUNDS: PREFERRED STOCK OF...

Section 425.211. Authorized Investments for All Funds: Bonds Issued, Assumed, or Guaranteed in International Market - Sec. 425.211. AUTHORIZED INVESTMENTS FOR ALL FUNDS: BONDS ISSUED, ASSUMED,...

Section 425.212. Authorized Investments for All Funds: Securities or Investments Authorized or Described by Specific Statutory Provision - Sec. 425.212. AUTHORIZED INVESTMENTS FOR ALL FUNDS: SECURITIES OR INVESTMENTS...

Section 425.213. Authorized Investments for All Funds: Other Securities Specifically Authorized by Law - Sec. 425.213. AUTHORIZED INVESTMENTS FOR ALL FUNDS: OTHER SECURITIES SPECIFICALLY...

Section 425.214. Authorized Investments for All Funds: Loans Secured by Real Property - Sec. 425.214. AUTHORIZED INVESTMENTS FOR ALL FUNDS: LOANS SECURED BY...

Section 425.215. Authorized Investments for All Funds: Loans Secured by Certain Collateral Secured by Real Property - Sec. 425.215. AUTHORIZED INVESTMENTS FOR ALL FUNDS: LOANS SECURED BY...

Section 425.216. Authorized Investments for All Funds: Policy Loans - Sec. 425.216. AUTHORIZED INVESTMENTS FOR ALL FUNDS: POLICY LOANS. (a)...

Section 425.217. Authorized Investments for All Funds: Loans Secured by Certain Securities - Sec. 425.217. AUTHORIZED INVESTMENTS FOR ALL FUNDS: LOANS SECURED BY...

Section 425.218. Authorized Investments for All Funds: Securities Not Otherwise Specified - Sec. 425.218. AUTHORIZED INVESTMENTS FOR ALL FUNDS: SECURITIES NOT OTHERWISE...

Section 425.219. Authorized Investments for Policy Reserves and Surplus: Bonds of Certain Water Control and Improvement Districts - Sec. 425.219. AUTHORIZED INVESTMENTS FOR POLICY RESERVES AND SURPLUS: BONDS...

Section 425.220. Authorized Investments for Capital, Surplus, and Contingency Funds: Capital Stock, Bonds, and Other Corporate Obligations - Sec. 425.220. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...

Section 425.221. Authorized Investments for Capital, Surplus, and Contingency Funds: Bonds or Notes of Educational or Religious Corporations - Sec. 425.221. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...

Section 425.222. Authorized Investments for Capital, Surplus, and Contingency Funds: Life Income Interests in Qualified Trusts - Sec. 425.222. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...

Section 425.223. Authorized Investments for Capital, Surplus, and Contingency Funds: Capital Stock of Reinsurer - Sec. 425.223. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...

Section 425.224. Authorized Investments for Capital, Surplus, and Contingency Funds: Loans Secured by Corporate Stock - Sec. 425.224. AUTHORIZED INVESTMENTS FOR CAPITAL, SURPLUS, AND CONTINGENCY FUNDS:...

Section 425.225. Investment in Foreign Securities - Sec. 425.225. INVESTMENT IN FOREIGN SECURITIES. (a) An insurer authorized...

Section 425.226. Investment in Stock Subject to Assessment Prohibited - Sec. 425.226. INVESTMENT IN STOCK SUBJECT TO ASSESSMENT PROHIBITED. An...

Section 425.227. Certain Investment Powers Not a Restriction - Sec. 425.227. CERTAIN INVESTMENT POWERS NOT A RESTRICTION. The investment...

Section 425.228. Investments of Ceding Insurer - Sec. 425.228. INVESTMENTS OF CEDING INSURER. (a) Subject to this...

Section 425.229. Authorized Investments: Real Estate for Insurer's Offices - Sec. 425.229. AUTHORIZED INVESTMENTS: REAL ESTATE FOR INSURER'S OFFICES. (a)...

Section 425.230. Authorized Investments: Oil, Gas, and Minerals - Sec. 425.230. AUTHORIZED INVESTMENTS: OIL, GAS, AND MINERALS. (a) In...

Section 425.231. Authorized Investments: Real Property Acquired Under Certain Circumstances - Sec. 425.231. AUTHORIZED INVESTMENTS: REAL PROPERTY ACQUIRED UNDER CERTAIN CIRCUMSTANCES....

Section 425.232. Authorized Investments: Improved Income-Producing Real Property - Sec. 425.232. AUTHORIZED INVESTMENTS: IMPROVED INCOME-PRODUCING REAL PROPERTY. (a) In...

Chapter 426 - Reserves for Workers' Compensation Insurance Companies

Section 426.001. Reserves Required - Sec. 426.001. RESERVES REQUIRED. A workers' compensation insurance company engaged...

Section 426.002. Computation of Reserves - Sec. 426.002. COMPUTATION OF RESERVES. Reserves required by Section 426.001...

Section 426.003. Maintenance of Reserves; Notice of Noncompliance - Sec. 426.003. MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE. (a) If...

Chapter 427 - Subordinated Indebtedness

Subchapter A. General Provisions

Section 427.001. Applicability of Chapter - Sec. 427.001. APPLICABILITY OF CHAPTER. This chapter applies to an...

Section 427.002. Rules - Sec. 427.002. RULES. The commissioner shall adopt rules necessary to...

Subchapter B. Loan, Advance, and Other Indebtedness

Section 427.051. Loan or Advance Permitted - Sec. 427.051. LOAN OR ADVANCE PERMITTED. An insurer or health...

Section 427.052. Subordinated Liability Permitted - Sec. 427.052. SUBORDINATED LIABILITY PERMITTED. (a) An insurer or health...

Section 427.053. Approval of Agreement Required - Sec. 427.053. APPROVAL OF AGREEMENT REQUIRED. (a) An insurer or...

Section 427.054. Liability - Sec. 427.054. LIABILITY. (a) A loan or advance made under...

Section 427.055. Payment of Principal or Interest on Certain Liabilities - Sec. 427.055. PAYMENT OF PRINCIPAL OR INTEREST ON CERTAIN LIABILITIES....

Subtitle C - Delinquent Insurers

Chapter 441 - Supervision and Conservatorship

Subchapter A. General Provisions

Section 441.001. Findings and Purpose - Sec. 441.001. FINDINGS AND PURPOSE. (a) An insurer delinquency, or...

Section 441.002. Definition - Sec. 441.002. DEFINITION. In this chapter, unless the purposes of...

Section 441.003. Applicability of and Compliance With Chapter - Sec. 441.003. APPLICABILITY OF AND COMPLIANCE WITH CHAPTER. Compliance with...

Section 441.004. Actions of Commissioner - Sec. 441.004. ACTIONS OF COMMISSIONER. (a) In the event of...

Section 441.005. Rules; Authority for Administrative Action - Sec. 441.005. RULES; AUTHORITY FOR ADMINISTRATIVE ACTION. (a) The commissioner...

Section 441.006. Rules and Procedures for Merger of Insurers - Sec. 441.006. RULES AND PROCEDURES FOR MERGER OF INSURERS. (a)...

Section 441.007. Conflict With Other Laws - Sec. 441.007. CONFLICT WITH OTHER LAWS. If this chapter conflicts...

Section 441.008. Inapplicability of Certain Administrative Procedure Provisions - Sec. 441.008. INAPPLICABILITY OF CERTAIN ADMINISTRATIVE PROCEDURE PROVISIONS. Section 2001.062,...

Subchapter B. Determination and Notice

Section 441.051. Circumstances Constituting Insolvency or Delinquency - Sec. 441.051. CIRCUMSTANCES CONSTITUTING INSOLVENCY OR DELINQUENCY. For the purposes...

Section 441.052. Circumstances Constituting Insurer Exceeding Powers - Sec. 441.052. CIRCUMSTANCES CONSTITUTING INSURER EXCEEDING POWERS. For the purposes...

Section 441.053. Notice to Insurer - Sec. 441.053. NOTICE TO INSURER. (a) If at any time...

Subchapter C. Supervision

Section 441.101. Appointment of Supervisor - Sec. 441.101. APPOINTMENT OF SUPERVISOR. The commissioner may appoint a...

Section 441.102. Time for Compliance With Requirements of Supervision - Sec. 441.102. TIME FOR COMPLIANCE WITH REQUIREMENTS OF SUPERVISION. An...

Section 441.103. Payment of Claims - Sec. 441.103. PAYMENT OF CLAIMS. An insurer under supervision shall...

Section 441.104. Prohibited Acts During Supervision - Sec. 441.104. PROHIBITED ACTS DURING SUPERVISION. During supervision, the commissioner...

Section 441.105. Hearing on Supervision; Termination by Conservation or Release - Sec. 441.105. HEARING ON SUPERVISION; TERMINATION BY CONSERVATION OR RELEASE....

Subchapter D. Conservatorship

Section 441.151. Appointment of Conservator - Sec. 441.151. APPOINTMENT OF CONSERVATOR. (a) The commissioner may appoint...

Section 441.152. Notice of Conservatorship - Sec. 441.152. NOTICE OF CONSERVATORSHIP. (a) Not later than the...

Section 441.153. Powers and Duties of Conservator - Sec. 441.153. POWERS AND DUTIES OF CONSERVATOR. (a) The conservator...

Section 441.154. Payment of Claims - Sec. 441.154. PAYMENT OF CLAIMS. An insurer under conservatorship shall...

Section 441.155. Reinsurance During Conservatorship - Sec. 441.155. REINSURANCE DURING CONSERVATORSHIP. (a) If during a conservatorship...

Section 441.156. Hearings During Conservatorship - Sec. 441.156. HEARINGS DURING CONSERVATORSHIP. (a) On the commissioner's own...

Section 441.157. Immunity - Sec. 441.157. IMMUNITY. A conservator and the conservator's agents and...

Section 441.158. Venue - Sec. 441.158. VENUE. (a) A suit against an insurer in...

Section 441.159. Duration of Conservatorship - Sec. 441.159. DURATION OF CONSERVATORSHIP. (a) Except as provided by...

Section 441.160. Return to Management - Sec. 441.160. RETURN TO MANAGEMENT. An insurer that is rehabilitated...

Subchapter E. Provisions Applying to Supervision and Conservatorship

Section 441.201. Confidentiality - Sec. 441.201. CONFIDENTIALITY. (a) Hearings and orders, notices, correspondence, reports,...

Section 441.202. Costs of Supervision and Conservatorship - Sec. 441.202. COSTS OF SUPERVISION AND CONSERVATORSHIP. The commissioner shall...

Section 441.203. Collection of Fees From Rehabilitated Insurer - Sec. 441.203. COLLECTION OF FEES FROM REHABILITATED INSURER. (a) The...

Section 441.204. Review and Stay of Certain Acts of Supervisor or Conservator - Sec. 441.204. REVIEW AND STAY OF CERTAIN ACTS OF SUPERVISOR...

Section 441.205. Appeal of Certain Orders - Sec. 441.205. APPEAL OF CERTAIN ORDERS. The following orders of...

Section 441.206. Ex Parte Meeting With Commissioner - Sec. 441.206. EX PARTE MEETING WITH COMMISSIONER. Notwithstanding any other...

Section 441.207. Insurer Employees During Supervision or Conservatorship - Sec. 441.207. INSURER EMPLOYEES DURING SUPERVISION OR CONSERVATORSHIP. (a) Notwithstanding...

Subchapter F. Out-of-State Insurers

Section 441.251. Applicability - Sec. 441.251. APPLICABILITY. This chapter applies to an insurer engaged...

Section 441.252. Appointment of Ancillary Supervisor or Conservator - Sec. 441.252. APPOINTMENT OF ANCILLARY SUPERVISOR OR CONSERVATOR. (a) The...

Section 441.253. Powers and Duties of Ancillary Supervisor or Conservator - Sec. 441.253. POWERS AND DUTIES OF ANCILLARY SUPERVISOR OR CONSERVATOR....

Section 441.254. Failure to Comply With Requirements of Supervision - Sec. 441.254. FAILURE TO COMPLY WITH REQUIREMENTS OF SUPERVISION. The...

Section 441.255. Referral for Remedial Action - Sec. 441.255. REFERRAL FOR REMEDIAL ACTION. The commissioner may refer...

Subchapter G. Powers and Duties of Attorney General

Section 441.301. Remedial Action by Attorney General - Sec. 441.301. REMEDIAL ACTION BY ATTORNEY GENERAL. (a) The commissioner...

Section 441.302. Forfeiture and Cancellation of Charter on Conclusion of Business - Sec. 441.302. FORFEITURE AND CANCELLATION OF CHARTER ON CONCLUSION OF...

Subchapter H. Agents of Record for Certain Insureds

Section 441.351. Agents of Record - Sec. 441.351. AGENTS OF RECORD. (a) Unless otherwise prohibited, the...

Chapter 443 - Insurer Receivership Act

Subchapter A. General Provisions

Section 443.001. Construction and Purpose - Sec. 443.001. CONSTRUCTION AND PURPOSE. (a) This chapter may be...

Section 443.002. Conflicts of Law - Sec. 443.002. CONFLICTS OF LAW. This chapter and the state...

Section 443.003. Covered Persons - Sec. 443.003. COVERED PERSONS. The provisions of this chapter apply...

Section 443.004. Definitions - Sec. 443.004. DEFINITIONS. (a) For the purposes of this chapter:...

Section 443.005. Jurisdiction and Venue - Sec. 443.005. JURISDICTION AND VENUE. (a) Except as authorized by...

Section 443.006. Exemption From Fees - Sec. 443.006. EXEMPTION FROM FEES. The receiver may not be...

Section 443.007. Notice, Hearing, and Appeal on Matters Submitted by Receiver for Receivership Court Approval - Sec. 443.007. NOTICE, HEARING, AND APPEAL ON MATTERS SUBMITTED BY...

Section 443.008. Injunctions and Orders - Sec. 443.008. INJUNCTIONS AND ORDERS. (a) The receivership court may...

Section 443.009. Statutes of Limitations - Sec. 443.009. STATUTES OF LIMITATIONS. (a) If applicable law, an...

Section 443.010. Cooperation of Officers, Owners, and Employees - Sec. 443.010. COOPERATION OF OFFICERS, OWNERS, AND EMPLOYEES. (a) Any...

Section 443.011. Actions by and Against Receiver - Sec. 443.011. ACTIONS BY AND AGAINST RECEIVER. (a) An allegation...

Section 443.012. Unrecorded Obligations and Defenses of Affiliates - Sec. 443.012. UNRECORDED OBLIGATIONS AND DEFENSES OF AFFILIATES. (a) In...

Section 443.013. Executory Contracts and Unexpired Leases - Sec. 443.013. EXECUTORY CONTRACTS AND UNEXPIRED LEASES. (a) The receiver...

Section 443.0135. Contracts for Special Deputies - Sec. 443.0135. CONTRACTS FOR SPECIAL DEPUTIES. (a) Except as provided...

Section 443.014. Immunity and Indemnification of Receiver and Assistants - Sec. 443.014. IMMUNITY AND INDEMNIFICATION OF RECEIVER AND ASSISTANTS. (a)...

Section 443.015. Approval and Payment of Expenses - Sec. 443.015. APPROVAL AND PAYMENT OF EXPENSES. (a) The receiver...

Section 443.016. Financial Reporting - Sec. 443.016. FINANCIAL REPORTING. (a) Not later than the 120th...

Section 443.017. Records - Sec. 443.017. RECORDS. (a) Upon entry of an order of...

Subchapter B. Proceedings

Section 443.051. Receivership Court's Seizure Order - Sec. 443.051. RECEIVERSHIP COURT'S SEIZURE ORDER. (a) The commissioner may...

Section 443.052. Commencement of Formal Delinquency Proceeding - Sec. 443.052. COMMENCEMENT OF FORMAL DELINQUENCY PROCEEDING. (a) Except as...

Section 443.053. Return of Summons and Summary Hearing - Sec. 443.053. RETURN OF SUMMONS AND SUMMARY HEARING. (a) The...

Section 443.054. Proceedings for Expedited Trial: Continuances, Discovery, Evidence - Sec. 443.054. PROCEEDINGS FOR EXPEDITED TRIAL: CONTINUANCES, DISCOVERY, EVIDENCE. (a)...

Section 443.055. Decision and Appeals - Sec. 443.055. DECISION AND APPEALS. (a) The receivership court shall...

Section 443.056. Confidentiality - Sec. 443.056. CONFIDENTIALITY. (a) The commissioner, rehabilitator, or liquidator may...

Section 443.057. Grounds for Conservation, Rehabilitation, or Liquidation - Sec. 443.057. GROUNDS FOR CONSERVATION, REHABILITATION, OR LIQUIDATION. A petition...

Section 443.058. Entry of Order - Sec. 443.058. ENTRY OF ORDER. If any of the grounds...

Section 443.059. Effect of Petition or Order on Contract or Lease - Sec. 443.059. EFFECT OF PETITION OR ORDER ON CONTRACT OR...

Subchapter C. Rehabilitation

Section 443.101. Rehabilitation Orders - Sec. 443.101. REHABILITATION ORDERS. (a) An order to rehabilitate the...

Section 443.102. Powers and Duties of Rehabilitator - Sec. 443.102. POWERS AND DUTIES OF REHABILITATOR. (a) The rehabilitator...

Section 443.103. Rehabilitation Plans - Sec. 443.103. REHABILITATION PLANS. (a) The rehabilitator shall prepare and...

Section 443.104. Termination of Rehabilitation - Sec. 443.104. TERMINATION OF REHABILITATION. (a) When the rehabilitator believes...

Section 443.105. Coordination With Guaranty Associations - Sec. 443.105. COORDINATION WITH GUARANTY ASSOCIATIONS. (a) The receiver shall...

Subchapter D. Liquidation

Section 443.151. Liquidation Orders - Sec. 443.151. LIQUIDATION ORDERS. (a) An order to liquidate the...

Section 443.152. Continuance of Coverage - Sec. 443.152. CONTINUANCE OF COVERAGE. (a) Notwithstanding any policy or...

Section 443.153. Sale or Dissolution of Insurer's Corporate Entity - Sec. 443.153. SALE OR DISSOLUTION OF INSURER'S CORPORATE ENTITY. (a)...

Section 443.154. Powers of Liquidator - Sec. 443.154. POWERS OF LIQUIDATOR. (a) The liquidator may appoint...

Section 443.155. Notice to Creditors and Others - Sec. 443.155. NOTICE TO CREDITORS AND OTHERS. (a) Unless the...

Section 443.156. Duties of Agents - Sec. 443.156. DUTIES OF AGENTS. (a) Every person who represented...

Subchapter E. Asset Recovery

Section 443.201. Turnover of Assets - Sec. 443.201. TURNOVER OF ASSETS. (a) If the receiver determines...

Section 443.202. Recovery From Affiliates - Sec. 443.202. RECOVERY FROM AFFILIATES. (a) The receiver has a...

Section 443.203. Unauthorized Post-Petition Transfers - Sec. 443.203. UNAUTHORIZED POST-PETITION TRANSFERS. (a) Except as provided by...

Section 443.204. Voidable Preferences and Liens - Sec. 443.204. VOIDABLE PREFERENCES AND LIENS. (a) A "preference" is...

Section 443.205. Fraudulent Transfers and Obligations - Sec. 443.205. FRAUDULENT TRANSFERS AND OBLIGATIONS. (a) The receiver may...

Section 443.206. Receiver as Lien Creditor - Sec. 443.206. RECEIVER AS LIEN CREDITOR. (a) The receiver may...

Section 443.207. Liability of Transferee - Sec. 443.207. LIABILITY OF TRANSFEREE. (a) Except as otherwise provided...

Section 443.208. Claims of Holders of Void or Voidable Rights - Sec. 443.208. CLAIMS OF HOLDERS OF VOID OR VOIDABLE RIGHTS....

Section 443.209. Setoffs - Sec. 443.209. SETOFFS. (a) All mutual debts or mutual credits,...

Section 443.210. Assessments - Sec. 443.210. ASSESSMENTS. (a) As soon as practicable, but not...

Section 443.211. Reinsurer's Liability - Sec. 443.211. REINSURER'S LIABILITY. (a) If the receiver has claims...

Section 443.212. Recovery of Premiums Owed - Sec. 443.212. RECOVERY OF PREMIUMS OWED. (a) An insured shall...

Section 443.213. Administration of Deductible Agreements and Policyholder Collateral - Sec. 443.213. ADMINISTRATION OF DEDUCTIBLE AGREEMENTS AND POLICYHOLDER COLLATERAL. (a)...

Subchapter F. Claims

Section 443.251. Filing of Claims - Sec. 443.251. FILING OF CLAIMS. (a) Except as provided by...

Section 443.252. Proof of Claim - Sec. 443.252. PROOF OF CLAIM. (a) Proof of claim consists...

Section 443.253. Allowance of Claims - Sec. 443.253. ALLOWANCE OF CLAIMS. (a) Except as provided in...

Section 443.254. Claims Under Occurrence Policies, Surety Bonds, and Surety Undertakings - Sec. 443.254. CLAIMS UNDER OCCURRENCE POLICIES, SURETY BONDS, AND SURETY...

Section 443.255. Allowance of Contingent and Unliquidated Claims - Sec. 443.255. ALLOWANCE OF CONTINGENT AND UNLIQUIDATED CLAIMS. (a) A...

Section 443.256. Special Provisions for Third-Party Claims - Sec. 443.256. SPECIAL PROVISIONS FOR THIRD-PARTY CLAIMS. (a) When any...

Section 443.257. Disputed Claims - Sec. 443.257. DISPUTED CLAIMS. (a) When objections to the liquidator's...

Section 443.258. Liquidator's Recommendations to Receivership Court - Sec. 443.258. LIQUIDATOR'S RECOMMENDATIONS TO RECEIVERSHIP COURT. The liquidator shall...

Section 443.259. Claims of Codebtors - Sec. 443.259. CLAIMS OF CODEBTORS. If a creditor does not...

Section 443.260. Secured Creditors' Claims - Sec. 443.260. SECURED CREDITORS' CLAIMS. (a) The value of any...

Section 443.261. Qualified Financial Contracts - Sec. 443.261. QUALIFIED FINANCIAL CONTRACTS. (a) Notwithstanding any other provision...

Subchapter G. Distributions

Section 443.301. Priority of Distribution - Sec. 443.301. PRIORITY OF DISTRIBUTION. The priority of payment of...

Section 443.302. Partial and Final Distributions of Assets - Sec. 443.302. PARTIAL AND FINAL DISTRIBUTIONS OF ASSETS. (a) With...

Section 443.303. Early Access Payments - Sec. 443.303. EARLY ACCESS PAYMENTS. (a) For purposes of this...

Section 443.304. Unclaimed and Withheld Funds - Sec. 443.304. UNCLAIMED AND WITHHELD FUNDS. (a) If any funds...

Subchapter H. Discharge

Section 443.351. Condition on Release From Delinquency Proceedings - Sec. 443.351. CONDITION ON RELEASE FROM DELINQUENCY PROCEEDINGS. Until all...

Section 443.352. Termination of Liquidation Proceedings - Sec. 443.352. TERMINATION OF LIQUIDATION PROCEEDINGS. When all property justifying...

Section 443.353. Reopening Receivership - Sec. 443.353. REOPENING RECEIVERSHIP. After the liquidation proceeding has been...

Section 443.354. Disposition of Records During and After Termination of Receivership - Sec. 443.354. DISPOSITION OF RECORDS DURING AND AFTER TERMINATION OF...

Section 443.355. External Audit of the Receiver's Books - Sec. 443.355. EXTERNAL AUDIT OF THE RECEIVER'S BOOKS. (a) The...

Subchapter I. Interstate Relations

Section 443.401. Ancillary Conservation of Foreign Insurers - Sec. 443.401. ANCILLARY CONSERVATION OF FOREIGN INSURERS. (a) The commissioner...

Section 443.402. Domiciliary Receivers Appointed in Other States - Sec. 443.402. DOMICILIARY RECEIVERS APPOINTED IN OTHER STATES. (a) A...

Chapter 444 - Agency Contracts With Certain Insurers

Section 444.001. Required Contract Provision - Sec. 444.001. REQUIRED CONTRACT PROVISION. An agency contract entered into...

Section 444.002. Disposition of Premiums - Sec. 444.002. DISPOSITION OF PREMIUMS. (a) On or after the...

Section 444.003. Effect of Chapter on Action by Receiver Against Agent - Sec. 444.003. EFFECT OF CHAPTER ON ACTION BY RECEIVER AGAINST...

Section 444.004. Agent Not Receiver's Agent - Sec. 444.004. AGENT NOT RECEIVER'S AGENT. This chapter does not...

Subtitle D - Guaranty Associations

Chapter 461 - General Provisions

Section 461.001. Applicability of Chapter - Sec. 461.001. APPLICABILITY OF CHAPTER. (a) Except as provided by...

Section 461.002. Disclosure of Guaranty Fund Nonparticipation - Sec. 461.002. DISCLOSURE OF GUARANTY FUND NONPARTICIPATION. (a) Each insurance...

Section 461.003. Form of Statement; Prohibition - Sec. 461.003. FORM OF STATEMENT; PROHIBITION. (a) The commissioner by...

Chapter 462 - Texas Property and Casualty Insurance Guaranty Association

Subchapter A. General Provisions

Section 462.001. Short Title - Sec. 462.001. SHORT TITLE. This chapter may be cited as...

Section 462.002. Purposes - Sec. 462.002. PURPOSES. The purposes of this chapter are to:...

Section 462.003. Construction - Sec. 462.003. CONSTRUCTION. This chapter shall be liberally construed to...

Section 462.004. General Definitions - Sec. 462.004. GENERAL DEFINITIONS. In this chapter: (1) "Affiliate" means...

Section 462.005. Description of Control - Sec. 462.005. DESCRIPTION OF CONTROL. (a) For purposes of this...

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Texas Statutes Insurance Code Title 4 - Regulation of Solvency

Texas Statutes
Insurance Code
Title 4 - Regulation of Solvency