Texas Insurance Code

§ 823.053 — REPORTING MATERIAL CHANGES

IN § 823.053Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 823. INSURANCE HOLDING COMPANY SYSTEMS · Art. B. REGISTRATION

Statute text

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(a)To keep the information required to be disclosed in a registration statement filed under Section 823.052 current, a registered insurer shall report each material change to the information, including the addition of information, not later than the 15th day after the last day of the month in which the insurer learns of the change.

(b)Subject to Section 823.107, each registered insurer shall report each dividend or distribution made to the shareholders not later than the earlier of:

(1)the second business day after the date the dividend or distribution is declared; or

(2)the 11th day before the date of payment.

(c)For purposes of this section, reports are considered to be made when received by the department.

(d)Reports made under this section are for informational purposes only.

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Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 1087 (H.B. 3460), Sec. 3, eff. June 14, 2013.