Texas Statutes
§ 424.216 — LIMITATION ON SALE OF CAP OR FLOOR.
Texas § 424.216
JurisdictionTexas
Code INInsurance Code
This text of Texas § 424.216 (LIMITATION ON SALE OF CAP OR FLOOR.) 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. § 424.216 (2026).
Text
Sec. 424.216. LIMITATION ON SALE OF CAP OR FLOOR. If an income generation transaction is a sale of a cap or a floor, the insurer must, during the entire period the cap or floor is outstanding, hold, or have a currently exercisable right to acquire, assets generating the cash flow necessary to make any payment for which the insurer is liable under the cap or floor.
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Legislative History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.
Nearby Sections
15
§ 424.001
DEFINITIONS.§ 424.002
INAPPLICABILITY OF CERTAIN LAW.§ 424.056
WRITTEN INVESTMENT PLAN.§ 424.057
INVESTMENT RECORDS.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 424.216, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/IN/424.216.