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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) To keep the information required to be disclosed in a registration statement filed under Section 823.052 current, a registered insurer shall report each material change to the information, including the addition of information, not later than the 15th day after the last day of the month in which the insurer learns of the change.
(b) Subject to Section 823.107, each registered insurer shall report each dividend or distribution made to the shareholders not later than the earlier of:
(1) the second business day after the date the dividend or distribution is declared; or
(2) the 11th day before the date of payment.
(c) For purposes of this section, reports are considered to be made when received by the department.
(d) Reports made under this section are for informational purposes only.
(e) An insurer is not required to report under this section a transaction that is approved under Section 823.103. That approval is considered to be an amendment of the registration statement filed under Section 823.052 without being reported under this section.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 823.053. Reporting Material Changes - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-823-053/
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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