Texas § 841.417 GUARANTY REQUIREMENTS.

Texas Statutes

§ 841.417 — GUARANTY REQUIREMENTS.

Texas § 841.417

Code INInsurance Code

This text of Texas § 841.417 (GUARANTY REQUIREMENTS.) 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. § 841.417 (2026).

Text

Sec. 841.417. GUARANTY REQUIREMENTS.

(a)A guaranty may not be used to comply with this chapter without the prior written approval of the commissioner.

(b)Before approving a guaranty, the commissioner must find that:

(1)the guarantor has capital and surplus of $100 million, exclusive of investments in subsidiaries and affiliates;

(2)the guarantor has admitted assets backing capital and surplus in an amount sufficient to fulfill the guaranty, and the sufficiency on an ongoing basis is demonstrated to the satisfaction of the commissioner;

(3)the guarantor and all affiliates are in good standing with the department;

(4)the guarantor has provided all information requested by the commissioner; and

(5)the guarantor is otherwise acceptable to the commissioner.

(c)Notwithstanding Subsection

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Sec. 841.417. GUARANTY REQUIREMENTS. (a) A guaranty may not be used to comply with this chapter without the prior written approval of the commissioner.
(b) Before approving a guaranty, the commissioner must find that:
(1) the guarantor has capital and surplus of $100 million, exclusive of investments in subsidiaries and affiliates;
(2) the guarantor has admitted assets backing capital and surplus in an amount sufficient to fulfill the guaranty, and the sufficiency on an ongoing basis is demonstrated to the satisfaction of the commissioner;
(3) the guarantor and all affiliates are in good standing with the department;
(4) the guarantor has provided all information requested by the commissioner; and
(5) the guarantor is otherwise acceptable to the commissioner.
(c) Notwithstanding Subsection (b), the commissioner may allow, subject to the commissioner's prior approval, an affiliated company of the holding company to serve as guarantor. The commissioner may approve an affiliated company as a guarantor on a finding that the affiliated company possesses the independent financial means to discharge the guaranty using the affiliated company's own financial resources.