Texas § 823.258 DISPOSITION OF INVESTMENT IN SUBSIDIARY AFTER CESSATION OF CONTROL.

Texas Statutes

§ 823.258 — DISPOSITION OF INVESTMENT IN SUBSIDIARY AFTER CESSATION OF CONTROL.

Texas § 823.258

Code INInsurance Code

This text of Texas § 823.258 (DISPOSITION OF INVESTMENT IN SUBSIDIARY AFTER CESSATION OF 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. § 823.258 (2026).

Text

Sec. 823.258. DISPOSITION OF INVESTMENT IN SUBSIDIARY AFTER CESSATION OF CONTROL.

(a)An insurer that ceases to control a subsidiary shall dispose of any investment in the subsidiary made under this subchapter before the third anniversary of the date the insurer ceases to control the subsidiary, unless:

(1)at any time after the investment is made the investment qualifies for investment under another provision of this code; and

(2)the insurer notifies the commissioner of that qualification.

(b)The commissioner may extend the period under Subsection (a) during which disposition is required.

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Sec. 823.258. DISPOSITION OF INVESTMENT IN SUBSIDIARY AFTER CESSATION OF CONTROL. (a) An insurer that ceases to control a subsidiary shall dispose of any investment in the subsidiary made under this subchapter before the third anniversary of the date the insurer ceases to control the subsidiary, unless:
(1) at any time after the investment is made the investment qualifies for investment under another provision of this code; and
(2) the insurer notifies the commissioner of that qualification.
(b) The commissioner may extend the period under Subsection (a) during which disposition is required.