Texas Insurance Code

§ 822.204 — FORM OF CAPITAL AND SURPLUS

IN § 822.204Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 822. GENERAL INCORPORATION AND REGULATORY REQUIREMENTS FOR INSURANCE COMPANIES OTHER THAN LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES · Art. E. CAPITAL, SURPLUS, AND GUARANTY FUND REQUIREMENTS

Statute text

View on source

(a)After incorporation and the issuance of a certificate of authority to an insurance company, the minimum capital stock and surplus of the company may consist only of:

(1)United States currency;

(2)bonds of this state;

(3)bonds or other evidences of indebtedness of the United States the principal and interest of which are guaranteed by the United States;

(4)bonds or other interest-bearing evidences of indebtedness of a county or municipality of this state; and

(5)notes secured by first mortgages:

…

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.