Texas Insurance Code

§ 402.053 — CONTENT OF REPORT CONCERNING MATERIAL ACQUISITIONS AND DISPOSITIONS

IN § 402.053Title 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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In a report of a material acquisition or disposition of assets under Section 402.002, an insurer or health maintenance organization shall disclose:

(1)the date of the transaction;

(2)the manner of acquisition or disposition;

(3)a description of the assets involved;

(4)the nature and amount of the consideration given or received;

(5)the purpose of the transaction;

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Legislative history

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