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Texas Insurance Code - INS § 861.253. Interest on Security Deposits

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

(a) A general casualty company with securities on deposit under this chapter is entitled to collect the interest on the deposits as the interest becomes due.  The comptroller shall deliver to the company the coupons or other evidence of interest pertaining to the deposits.

(b) The comptroller shall collect a general casualty company's interest described by Subsection (a) as the interest becomes due and hold that interest as additional security if:

(1) the company fails to deposit additional security as required by the commissioner;  or

(2) proceedings are pending to wind up or enjoin the company.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 861.253. Interest on Security Deposits - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-861-253/

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