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Texas Insurance Code - INS § 941.153. Accrual of Profits

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

The profits of a Lloyd's plan may accrue to an underwriter only on the basis of the underwriter's actual investment in cash or convertible securities, without regard to any obligation or subscription of the underwriter to pay additional cash or securities in the future.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 941.153. Accrual of Profits - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-941-153/

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