Texas § 493.105 ACCEPTABILITY OF CERTAIN LETTERS OF CREDIT.

Texas Statutes

§ 493.105 — ACCEPTABILITY OF CERTAIN LETTERS OF CREDIT.

Texas § 493.105

Code INInsurance Code

This text of Texas § 493.105 (ACCEPTABILITY OF CERTAIN LETTERS OF CREDIT.) 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. § 493.105 (2026).

Text

Sec. 493.105. ACCEPTABILITY OF CERTAIN LETTERS OF CREDIT. A letter of credit issued or confirmed by an institution that meets the standards prescribed by Section 493.104 (b)(2)(C) as of the date the letter is issued or confirmed, but later fails to meet those standards, continues to be acceptable as security under Section 493.104 until the earliest of:

(1)the letter's expiration;

(2)the letter's extension, renewal, modification, or amendment after the date the institution fails to meet those standards; or

(3)the expiration of the three-month period after the date the institution fails to meet those standards.

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Sec. 493.105. ACCEPTABILITY OF CERTAIN LETTERS OF CREDIT. A letter of credit issued or confirmed by an institution that meets the standards prescribed by Section 493.104 (b)(2)(C) as of the date the letter is issued or confirmed, but later fails to meet those standards, continues to be acceptable as security under Section 493.104 until the earliest of:
(1) the letter's expiration;
(2) the letter's extension, renewal, modification, or amendment after the date the institution fails to meet those standards; or
(3) the expiration of the three-month period after the date the institution fails to meet those standards.