Texas Insurance Code

§ 823.001 — FINDINGS AND PURPOSE

IN § 823.001Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 823. INSURANCE HOLDING COMPANY SYSTEMS · Art. A. GENERAL PROVISIONS

Statute text

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(a)It is consistent with the public interest and the interest of policyholders to permit insurers to:

(1)engage in activities that would enable the insurers to make better use of management skills and facilities;

(2)have free access to capital markets that could provide funds for insurers to use in diversification programs;

(3)implement sound tax planning conclusions; and

(4)serve the changing needs of the public and adapt to changing conditions of the social, economic, and political environment, so that insurers are able to compete effectively and to meet the growing public demand for institutions capable of providing a comprehensive range of financial services.

(b)The public interest and the interests of policyholders are adversely affected if:

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.010, eff. April 1, 2009.