Skip to main content
Find a Lawyer

Texas Insurance Code - INS § 984.101. Deposit with Comptroller Required

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

(a) A Mexican casualty insurance company shall deposit with the comptroller at least $25,000 in:

(1) United States currency;  or

(2) securities that are:

(A) eligible for other casualty insurance companies authorized to engage in the business of insurance in this state;  and

(B) approved by the department.

(b) The deposit shall be used to pay any lawful claim or final judgment against the company, including any claim or judgment for tax due to this state and any policy claim or other debt or obligation incurred in the course of the company's operations as provided by this chapter.

(c) The company shall periodically deposit additional currency or securities described by Subsection (a) as necessary to maintain a minimum total deposit of $25,000.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Texas Insurance Code - INS § 984.101. Deposit with Comptroller Required - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-984-101/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard