Sec. 822.054. CAPITAL STOCK AND SURPLUS REQUIREMENTS. (a) An insurance company must have capital stock in an amount of at least $2.5 million and surplus in an amount of at least $2.5 million.
(b) At the time of incorporation, the required capital and surplus must be in cash.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1275 (H.B. 1476), Sec. 1, eff. September 1, 2009.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle B - Organization of Regulated Entities
Subchapter B. Formation and Structure of Company
Section 822.051. Formation of Company
Section 822.052. Articles of Incorporation
Section 822.053. Company's Name
Section 822.054. Capital Stock and Surplus Requirements
Section 822.055. Shares of Stock With Par Value
Section 822.056. Shares of Stock Without Par Value
Section 822.057. Application for Charter
Section 822.058. Action by Commissioner After Filing of Application for Charter