Texas Insurance Code

§ 402.052 — ACQUISITIONS AND DISPOSITIONS SUBJECT TO CHAPTER

IN § 402.052Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 402. DISCLOSURE OF MATERIAL TRANSACTIONS · Art. B. ACQUISITION AND DISPOSITION OF ASSETS

Statute text

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(a)An asset acquisition subject to this chapter includes a purchase, lease, exchange, merger, consolidation, succession, or other acquisition of assets, except the construction or development of real property by or for the reporting insurer or health maintenance organization or the acquisition of materials for that purpose.

(b)An asset disposition subject to this chapter includes a sale, lease, exchange, merger, consolidation, mortgage, hypothecation, assignment, whether for the benefit of a creditor or otherwise, abandonment, destruction, or other disposition of assets.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.