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Texas Insurance Code - INS § 942.155. Financial Requirements

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

(a) An exchange shall maintain at all times an unencumbered surplus over and above all liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaged in the same kinds of business.

(b) An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business.

(c) An exchange shall maintain the required assets as to:

(1) minimum surplus requirements, as provided by Section 822.204;  and

(2) other funds, as provided by the provisions of Subchapter B, Chapter 424,  1 other than Sections 424.052, 424.072, and 424.073.

1  V.T.C.A., Insurance Code § 424.051 et seq.
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Cite this article: FindLaw.com - Texas Insurance Code - INS § 942.155. Financial Requirements - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-942-155/

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