Texas Statutes
§ 884.456 — INCREASE OF RESERVES.
Texas § 884.456
JurisdictionTexas
Code INInsurance Code
This text of Texas § 884.456 (INCREASE OF RESERVES.) 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. § 884.456 (2026).
Text
Sec. 884.456. INCREASE OF RESERVES.
(a)If a stipulated premium company does not have the reserves required by this subchapter and the minimum capital required under this chapter, the company's board of directors by appropriate action shall increase premium rates on policies in force by advancing the age of each insured at the date the insured's policy is issued or otherwise equitably adjust premium rates to correct the reserve inadequacy. The board shall take that action not later than the 30th day after the date the reserves are computed.
(b)If the board of directors does not comply with Subsection (a), the stipulated premium company is treated as if the company had not corrected an impairment under Section 884.205 (a).
SUBCHAPTER K. DIRECT REINSURANCE AGREEMENTS
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Legislative History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Nearby Sections
15
§ 884.001
DEFINITION.§ 884.003
ADMITTED ASSETS.§ 884.051
FORMATION OF COMPANY.§ 884.052
ARTICLES OF INCORPORATION.§ 884.053
COMPANY'S NAME.§ 884.055
SHARES OF STOCK.§ 884.056
APPLICATION FOR CHARTER.§ 884.058
EXAMINATION AFTER DETERMINATION.§ 884.059
ACTION ON APPLICATION.§ 884.060
BEGINNING OF CORPORATE EXISTENCE.§ 884.061
ORGANIZATIONAL MEETING.§ 884.101
SCHEDULE OF ASSETS.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 884.456, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/IN/884.456.