Texas § 861.253 INTEREST ON SECURITY DEPOSITS.

Texas Statutes

§ 861.253 — INTEREST ON SECURITY DEPOSITS.

Texas § 861.253

Code INInsurance Code

This text of Texas § 861.253 (INTEREST ON SECURITY DEPOSITS.) 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. § 861.253 (2026).

Text

Sec. 861.253. INTEREST ON SECURITY DEPOSITS.

(a)A general casualty company with securities on deposit under this chapter is entitled to collect the interest on the deposits as the interest becomes due. The comptroller shall deliver to the company the coupons or other evidence of interest pertaining to the deposits.

(b)The comptroller shall collect a general casualty company's interest described by Subsection (a) as the interest becomes due and hold that interest as additional security if:

(1)the company fails to deposit additional security as required by the commissioner; or

(2)proceedings are pending to wind up or enjoin the company.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 861.253. INTEREST ON SECURITY DEPOSITS. (a) A general casualty company with securities on deposit under this chapter is entitled to collect the interest on the deposits as the interest becomes due. The comptroller shall deliver to the company the coupons or other evidence of interest pertaining to the deposits.
(b) The comptroller shall collect a general casualty company's interest described by Subsection (a) as the interest becomes due and hold that interest as additional security if:
(1) the company fails to deposit additional security as required by the commissioner; or
(2) proceedings are pending to wind up or enjoin the company.