Texas § 423.101 DEFINITION.

Texas Statutes

§ 423.101 — DEFINITION.

Texas § 423.101

Code INInsurance Code

This text of Texas § 423.101 (DEFINITION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 423.101 (2026).

Text

Sec. 423.101. DEFINITION. In this subchapter, "clearing corporation" means:

(1)a clearing corporation as defined by Section 8.102 (a), Business & Commerce Code; or

(2)a clearance system that:

(A)is organized or operating under the laws of at least one foreign country;

(B)provides for book-entry settlement and custody of internationally traded securities; and

(C)has been organized and in operation for not less than 15 consecutive years.

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Sec. 423.101. DEFINITION. In this subchapter, "clearing corporation" means:
(1) a clearing corporation as defined by Section 8.102 (a), Business & Commerce Code; or
(2) a clearance system that:
(A) is organized or operating under the laws of at least one foreign country;
(B) provides for book-entry settlement and custody of internationally traded securities; and
(C) has been organized and in operation for not less than 15 consecutive years.