Texas Insurance Code

§ 423.108 — LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION

IN § 423.108Title 4. REGULATION OF SOLVENCY · Part B. RESERVES AND INVESTMENTS · Ch. 423. TRANSACTIONS WITH MONEY AND OTHER ASSETS · Art. C. TRANSACTIONS WITH OTHER ASSETS

Statute text

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The commissioner by rule may adopt a reasonable limit on the percentage of a domestic insurer's assets that may be deposited with a clearing corporation. The limit may not exceed five percent of the insurer's total assets, as shown by the insurer's annual statement filed with the department for the year preceding the year for which the limit is adopted.

Legislative history

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