Texas § 911.308 SURPLUS REQUIREMENTS.

Texas Statutes

§ 911.308 — SURPLUS REQUIREMENTS.

Texas § 911.308

Code INInsurance Code

This text of Texas § 911.308 (SURPLUS 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. § 911.308 (2026).

Text

Sec. 911.308. SURPLUS REQUIREMENTS.

(a)A farm mutual insurance company organized between January 1, 1955, and May 21, 1973, shall maintain an unencumbered surplus of $2 for each $100 of insurance in force or an unencumbered surplus of $200,000, whichever amount is less.

(b)A farm mutual insurance company organized under this chapter on or after May 21, 1973, shall maintain an unencumbered surplus in cash of $2 for each $100 of insurance in force or an unencumbered surplus of $200,000, whichever amount is greater.

(c)A company described by Subsection (b) shall invest the minimum unencumbered surplus as provided by Section 822.204 . The company may invest funds in excess of the minimum unencumbered surplus as provided by the provisions of Subchapter B , Chapter 424 , other than Sections 4

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

Sec. 911.308. SURPLUS REQUIREMENTS. (a) A farm mutual insurance company organized between January 1, 1955, and May 21, 1973, shall maintain an unencumbered surplus of $2 for each $100 of insurance in force or an unencumbered surplus of $200,000, whichever amount is less.
(b) A farm mutual insurance company organized under this chapter on or after May 21, 1973, shall maintain an unencumbered surplus in cash of $2 for each $100 of insurance in force or an unencumbered surplus of $200,000, whichever amount is greater.
(c) A company described by Subsection (b) shall invest the minimum unencumbered surplus as provided by Section 822.204 . The company may invest funds in excess of the minimum unencumbered surplus as provided by the provisions of Subchapter B , Chapter 424 , other than Sections 424.052 , 424.072 , and 424.073 .
(d) A company described by Subsection (b) shall, without delay, restore the minimum unencumbered surplus if the surplus is impaired. The department shall proceed as provided by Subchapter B , Chapter 404 .

Legislative History

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 2E.108, eff. April 1, 2009.