Texas Insurance Code

§ 425.004 — RECORDS OF SECURITIES DEPOSITED WITH DEPARTMENT; REPORT OF VALUE

IN § 425.004Title 4. REGULATION OF SOLVENCY · Part B. RESERVES AND INVESTMENTS · Ch. 425. RESERVES AND INVESTMENTS FOR LIFE INSURANCE · Art. A. GENERAL PROVISIONS

Statute text

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Each life insurance company that is required by Section 425.003 to have securities on deposit with the department shall:

(1)keep records of:

(A)all of the company's outstanding registered policies and annuity contracts in force; and

(B)the net value of those policies and contracts; and

(2)not later than the 15th day after the last day of each calendar month, file with the department a report stating whether the value of the company's securities on deposit is equal to or greater than the aggregate net value of the company's registered policies and annuity contracts outstanding and in force at the end of the preceding calendar month.

Legislative history

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