Texas Insurance Code

§ 403.053 — ACQUIRED EARNED SURPLUS

IN § 403.053Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 403. DIVIDENDS · Art. B. ESTIMATE OF PROFITS

Statute text

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(a)This section applies only to:

(1)a stock domestic insurance company authorized to engage in the business of life, accident, or health insurance in this state;

(2)a stock foreign or alien life, health, or accident insurance company;

(3)a stock insurance company authorized to engage in the business of property, casualty, or fire insurance; and

(4)a domestic Lloyd's plan, reciprocal or interinsurance exchange, or title insurance company.

(b)In determining the amount of "surplus profits arising from the insurer's business" or "earned surplus" for the purpose of paying dividends to shareholders, the insurer may include the acquired earned surplus of an insurance subsidiary acquired by the insurer to the extent that:

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Legislative history

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