Texas Insurance Code

§ 823.202 — CONSIDERATION FOR ACQUISITION

IN § 823.202Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 823. INSURANCE HOLDING COMPANY SYSTEMS · Art. E. ACQUISITION STATEMENT

Statute text

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(a)A statement required under Section 823.154 must contain:

(1)the source, nature, and amount of consideration for the acquisition of control;

(2)a description of any transaction from which the consideration for the acquisition of control is obtained; and

(3)the identity of each person providing the consideration.

(b)On request of the person filing the statement, the identity of a commercial lender who in the ordinary course of business provides consideration for the acquisition is confidential.

Legislative history

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