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Texas Insurance Code - INS § 2210.6325. Request to Enter into Financing Arrangement

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The association may submit a request to the comptroller to enter into a financing arrangement as authorized by Section 404.0242, Government Code.  The request must include the association's requested maximum principal amount and maximum term of the arrangement.

(b) The association and the comptroller may agree to increase the maximum principal amount stated in a request submitted under Subsection (a) on a showing that a greater principal amount is needed to:

(1) pay the costs related to the issuance of the financing arrangement;

(2) provide for a debt service reserve fund;  or

(3) capitalize interest for a period equal to the lesser of:

(A) a period determined necessary by the association;  or

(B) six months.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2210.6325. Request to Enter into Financing Arrangement - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2210-6325/

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