Sec. 425.004. RECORDS OF SECURITIES DEPOSITED WITH DEPARTMENT; REPORT OF VALUE. Each life insurance company that is required by Section 425.003 to have securities on deposit with the department shall:
(1) keep records of:
(A) all of the company's outstanding registered policies and annuity contracts in force; and
(B) the net value of those policies and contracts; and
(2) not later than the 15th day after the last day of each calendar month, file with the department a report stating whether the value of the company's securities on deposit is equal to or greater than the aggregate net value of the company's registered policies and annuity contracts outstanding and in force at the end of the preceding calendar month.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle B - Reserves and Investments
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
Section 425.004. Records of Securities Deposited With Department; Report of Value
Section 425.005. Department Duties Regarding Deposited Securities; Insurance Company Access
Section 425.006. Additional Reserves Required: Substandard or Extra Hazardous Policies
Section 425.008. Authorized Investments for Foreign Companies