Texas Statutes
§ 941.153 — ACCRUAL OF PROFITS.
Texas § 941.153
JurisdictionTexas
Code INInsurance Code
This text of Texas § 941.153 (ACCRUAL OF PROFITS.) 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. § 941.153 (2026).
Text
Sec. 941.153. ACCRUAL OF PROFITS. The profits of a Lloyd's plan may accrue to an underwriter only on the basis of the underwriter's actual investment in cash or convertible securities, without regard to any obligation or subscription of the underwriter to pay additional cash or securities in the future.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Nearby Sections
15
§ 941.001
DEFINITIONS.§ 941.051
FORMATION OF LLOYD'S PLAN.§ 941.052
ATTORNEY IN FACT.§ 941.054
NAME OF LLOYD'S PLAN.§ 941.101
CERTIFICATE OF AUTHORITY REQUIRED.§ 941.151
LIABILITY OF UNDERWRITER.§ 941.153
ACCRUAL OF PROFITS.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 941.153, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/IN/941.153.