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Texas Insurance Code - INS § 425.004. Records of Securities Deposited with Department; Report of Value

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

Each life insurance company that is required by Section 425.003 to have securities on deposit with the department shall:

(1) keep records of:

(A) all of the company's outstanding registered policies and annuity contracts in force; and

(B) the net value of those policies and contracts; and

(2) not later than the 15th day after the last day of each calendar month, file with the department a report stating whether the value of the company's securities on deposit is equal to or greater than the aggregate net value of the company's registered policies and annuity contracts outstanding and in force at the end of the preceding calendar month.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 425.004. Records of Securities Deposited with Department; Report of Value - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-425-004/

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