Texas Insurance Code

§ 404.051 — IMPAIRMENT PROHIBITED

IN § 404.051Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 404. FINANCIAL CONDITION · Art. B. IMPAIRMENT OF STOCK OR SURPLUS

(a)The impairment of the capital stock of a stock insurance company is prohibited.

(b)Impairment of the following surpluses in excess of that provided by Section 404.053 is prohibited:

(1)the surplus of a stock insurance company; or

(2)the minimum required aggregate surplus of a:

(A)mutual company;

(B)Lloyd's plan; or

…

Legislative history

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