Texas § 882.055 UNENCUMBERED SURPLUS REQUIREMENTS.

Texas Statutes

§ 882.055 — UNENCUMBERED SURPLUS REQUIREMENTS.

Texas § 882.055

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 882.055 (2026).

Text

Sec. 882.055. UNENCUMBERED SURPLUS REQUIREMENTS. A mutual life insurance company must possess at the time of incorporation unencumbered surplus in an amount of at least $200,000. The unencumbered surplus may consist only of:

(1)United States currency;

(2)bonds of the United States, this state, or a county or municipality of this state; or

(3)government insured mortgage loans that are authorized by this chapter, with not more than 25 percent of the unencumbered surplus invested in first mortgage real estate loans.

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Sec. 882.055. UNENCUMBERED SURPLUS REQUIREMENTS. A mutual life insurance company must possess at the time of incorporation unencumbered surplus in an amount of at least $200,000. The unencumbered surplus may consist only of:
(1) United States currency;
(2) bonds of the United States, this state, or a county or municipality of this state; or
(3) government insured mortgage loans that are authorized by this chapter, with not more than 25 percent of the unencumbered surplus invested in first mortgage real estate loans.