Texas § 423.108 LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION.

Texas Statutes

§ 423.108 — LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION.

Texas § 423.108

Code INInsurance Code

This text of Texas § 423.108 (LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION.) 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. § 423.108 (2026).

Text

Sec. 423.108. LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION. The commissioner by rule may adopt a reasonable limit on the percentage of a domestic insurer's assets that may be deposited with a clearing corporation. The limit may not exceed five percent of the insurer's total assets, as shown by the insurer's annual statement filed with the department for the year preceding the year for which the limit is adopted.

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Sec. 423.108. LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION. The commissioner by rule may adopt a reasonable limit on the percentage of a domestic insurer's assets that may be deposited with a clearing corporation. The limit may not exceed five percent of the insurer's total assets, as shown by the insurer's annual statement filed with the department for the year preceding the year for which the limit is adopted.