Texas Statutes
Subchapter B. Formation and Structure of Mutual Life Insurance Company
Section 882.055. Unencumbered Surplus Requirements

Sec. 882.055. UNENCUMBERED SURPLUS REQUIREMENTS. A mutual life insurance company must possess at the time of incorporation unencumbered surplus in an amount of at least $200,000. The unencumbered surplus may consist only of:
(1) United States currency;
(2) bonds of the United States, this state, or a county or municipality of this state; or
(3) government insured mortgage loans that are authorized by this chapter, with not more than 25 percent of the unencumbered surplus invested in first mortgage real estate loans.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.