Texas § 942.155 FINANCIAL REQUIREMENTS.

Texas Statutes

§ 942.155 — FINANCIAL REQUIREMENTS.

Texas § 942.155

Code INInsurance Code

This text of Texas § 942.155 (FINANCIAL 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. § 942.155 (2026).

Text

Sec. 942.155. FINANCIAL REQUIREMENTS.

(a)An exchange shall maintain at all times an unencumbered surplus over and above all liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaged in the same kinds of business.

(b)An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business.

(c)An exchange shall maintain the required assets as to:

(1)minimum surplus requirements, as provided by Section 822.204 ; and

(2)other funds, as provided by the provisions of Subchapter B , Chapter 424 , other than Sections 424.052 , 424.072 , and 424.073 .

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Sec. 942.155. FINANCIAL REQUIREMENTS. (a) An exchange shall maintain at all times an unencumbered surplus over and above all liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaged in the same kinds of business.
(b) An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business.
(c) An exchange shall maintain the required assets as to:
(1) minimum surplus requirements, as provided by Section 822.204 ; and
(2) other funds, as provided by the provisions of Subchapter B , Chapter 424 , other than Sections 424.052 , 424.072 , and 424.073 .

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.120, eff. April 1, 2009.