Sec. 882.404. ALLOCATION OF CONTINGENCY RESERVE TO UNENCUMBERED SURPLUS. If a mutual life insurance company's unencumbered surplus is less than $100,000, the company may allocate any part of the company's contingency reserve to the company's unencumbered surplus.
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 E - Mutual and Fraternal Companies and Related Entities
Chapter 882 - Mutual Life Insurance Companies
Subchapter I. Contingency Reserve
Section 882.401. Amount of Contingency Reserve
Section 882.402. Excess Contingency Reserve
Section 882.403. Contingency Reserve Requirements
Section 882.404. Allocation of Contingency Reserve to Unencumbered Surplus
Section 882.405. Designation of Contingency Reserve as Unassigned Surplus