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Texas Insurance Code - INS § 982.202. Deed of Trust:  Approval by Commissioner

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

(a) The commissioner shall approve a deed of trust relating to the trusteed assets of an alien insurance company if the commissioner determines:

(1) the deed of trust or its amendments are sufficient in form and conform with applicable law;

(2) the trustee or trustees are eligible to serve in that capacity;  and

(3) the deed of trust is adequate to protect the interests of the beneficiaries of the trust.

(b) If, after notice and hearing, the commissioner determines that a requisite for approval of a deed of trust under Subsection (a) does not exist, the commissioner may withdraw approval.

(c) The commissioner may approve a change in any deed of trust that in the commissioner's judgment is in the best interests of the policyholders of the alien insurance company in the United States.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 982.202. Deed of Trust:  Approval by Commissioner - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-982-202/

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