Texas § 823.054 MATERIAL INFORMATION.

Texas Statutes

§ 823.054 — MATERIAL INFORMATION.

Texas § 823.054

Code INInsurance Code

This text of Texas § 823.054 (MATERIAL INFORMATION.) 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. § 823.054 (2026).

Text

Sec. 823.054. MATERIAL INFORMATION.

(a)Information about a transaction is not required to be disclosed on a registration statement filed under Section 823.052 or in a report under Section 823.053 unless the transaction is considered to be material under this section.

(b)If the amount of a single transaction or the total amount of all transactions involving sales, purchases, exchanges, loans or other extensions of credit, or investments is more than one-half of one percent of an insurer's admitted assets as of December 31 of the year preceding the date of the transaction or transactions, the transaction or transactions, respectively, are considered to be material for purposes of this section.

(c)Each dividend or distribution to shareholders is material for the purposes of this section. (

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Sec. 823.054. MATERIAL INFORMATION. (a) Information about a transaction is not required to be disclosed on a registration statement filed under Section 823.052 or in a report under Section 823.053 unless the transaction is considered to be material under this section.
(b) If the amount of a single transaction or the total amount of all transactions involving sales, purchases, exchanges, loans or other extensions of credit, or investments is more than one-half of one percent of an insurer's admitted assets as of December 31 of the year preceding the date of the transaction or transactions, the transaction or transactions, respectively, are considered to be material for purposes of this section.
(c) Each dividend or distribution to shareholders is material for the purposes of this section.
(d) The commissioner, by rule or order, may provide a standard that is different from the standard provided by Subsection (b).

Legislative History

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2017, 85th Leg., R.S., Ch. 38 (H.B. 3220 ), Sec. 4, eff. May 19, 2017. Acts 2017, 85th Leg., R.S., Ch. 67 (S.B. 1073 ), Sec. 1, eff. May 22, 2017.