Texas § 423.105 MANDATORY DEPOSIT OF SECURITIES; COMMISSIONER CONTROL.

Texas Statutes

§ 423.105 — MANDATORY DEPOSIT OF SECURITIES; COMMISSIONER CONTROL.

Texas § 423.105

Code INInsurance Code

This text of Texas § 423.105 (MANDATORY DEPOSIT OF SECURITIES; COMMISSIONER CONTROL.) 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. § 423.105 (2026).

Text

Sec. 423.105. MANDATORY DEPOSIT OF SECURITIES; COMMISSIONER CONTROL.

(a)An insurer that is required to deposit securities as a condition of engaging in the business of insurance in this state may deposit the securities with a clearing corporation or in the Federal Reserve book-entry system.

(b)Securities under Subsection (a) are under the commissioner's control and may not be withdrawn by the insurer without the commissioner's approval.

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Sec. 423.105. MANDATORY DEPOSIT OF SECURITIES; COMMISSIONER CONTROL. (a) An insurer that is required to deposit securities as a condition of engaging in the business of insurance in this state may deposit the securities with a clearing corporation or in the Federal Reserve book-entry system.
(b) Securities under Subsection (a) are under the commissioner's control and may not be withdrawn by the insurer without the commissioner's approval.