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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A foreign corporation may not engage in the business of title insurance in this state unless the corporation has unimpaired capital in an amount of at least $1 million and a surplus in an amount of at least $1 million.
(b) The foreign corporation must demonstrate the required capital and surplus from its financial statement and any other examination the department may want to conduct.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 2553.002. Capital and Surplus Requirements - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2553-002/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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