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Texas Insurance Code - INS § 823.258. Disposition of Investment in Subsidiary After Cessation of Control

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

(a) An insurer that ceases to control a subsidiary shall dispose of any investment in the subsidiary made under this subchapter before the third anniversary of the date the insurer ceases to control the subsidiary, unless:

(1) at any time after the investment is made the investment qualifies for investment under another provision of this code;  and

(2) the insurer notifies the commissioner of that qualification.

(b) The commissioner may extend the period under Subsection (a) during which disposition is required.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 823.258. Disposition of Investment in Subsidiary After Cessation of Control - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-823-258/

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