Sec. 828.057. PROHIBITION ON USE OF PURCHASING COMPANY'S CAPITAL, SURPLUS, OR RESERVES. Amounts actually paid by the purchasing company for the purchase of shares acquired or obtained under this subchapter may not include the minimum capital, minimum surplus, and policy reserves required by law for the purchasing company.
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 828 - Purchase of Stock for Total Assumption Reinsurance
Subchapter B. Exception to Investment Limitation
Section 828.051. Exception to Limitation on Purchasing Shares of Other Company
Section 828.052. Resolution of Intention to Reinsure
Section 828.053. Minimum Stock Acquisition
Section 828.054. Approval Required
Section 828.055. Restrictions on Reinsured Company
Section 828.057. Prohibition on Use of Purchasing Company's Capital, Surplus, or Reserves