Sec. 883.203. RESERVES. (a) A domestic mutual insurance company shall maintain unearned premiums and other reserves separately for each kind of insurance. The reserves must be maintained on the same basis as those reserves are required to be maintained by a domestic stock insurance company engaging in the same kinds of insurance.
(b) A mutual insurance company operating under this chapter is subject to the same reserve requirements as a domestic insurance company under law.
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 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies
Subchapter E. Regulation of Company
Section 883.201. Surplus Requirements
Section 883.202. Required Deposit for Companies Writing Bonds
Section 883.204. Annual Report
Section 883.205. Examination of Foreign Mutual Insurance Company