Sec. 823.305. VALUATING ACQUIRED AFFILIATE. (a) Not later than the 30th day after the date an insurer acquires an affiliate that is not an insurer, the insurer shall file with the commissioner relevant information identifying, supporting, and justifying the value of the affiliate and the basis of valuation under Section 823.302 used for that affiliate.
(b) After filing the information under Subsection (a), the insurer shall use the specified basis of valuation for that affiliate unless a change is substantiated as reasonable to and is approved in writing by the commissioner.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle B - Organization of Regulated Entities
Chapter 823 - Insurance Holding Company Systems
Subchapter G. Valuation of Investment for Financial Statement
Section 823.301. Scope of Subchapter
Section 823.302. Bases for Determining Valuation
Section 823.303. Adjustment to Determination
Section 823.304. Use of Different Bases
Section 823.305. Valuating Acquired Affiliate