Texas § 984.101 DEPOSIT WITH COMPTROLLER REQUIRED.

Texas Statutes

§ 984.101 — DEPOSIT WITH COMPTROLLER REQUIRED.

Texas § 984.101

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Bluebook

Tex. Insurance Code Code Ann. § 984.101 (2026).

Text

Sec. 984.101. DEPOSIT WITH COMPTROLLER REQUIRED.

(a)A Mexican casualty insurance company shall deposit with the comptroller at least $25,000 in:

(1)United States currency; or

(2)securities that are:

(A)eligible for other casualty insurance companies authorized to engage in the business of insurance in this state; and

(B)approved by the department.

(b)The deposit shall be used to pay any lawful claim or final judgment against the company, including any claim or judgment for tax due to this state and any policy claim or other debt or obligation incurred in the course of the company's operations as provided by this chapter.

(c)The company shall periodically deposit additional currency or securities described by Subsection (a) as necessary to maintain a minimum total deposit of $25,000.

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Sec. 984.101. DEPOSIT WITH COMPTROLLER REQUIRED. (a) A Mexican casualty insurance company shall deposit with the comptroller at least $25,000 in:
(1) United States currency; or
(2) securities that are:
(A) eligible for other casualty insurance companies authorized to engage in the business of insurance in this state; and
(B) approved by the department.
(b) The deposit shall be used to pay any lawful claim or final judgment against the company, including any claim or judgment for tax due to this state and any policy claim or other debt or obligation incurred in the course of the company's operations as provided by this chapter.
(c) The company shall periodically deposit additional currency or securities described by Subsection (a) as necessary to maintain a minimum total deposit of $25,000.