Texas Insurance Code

§ 828.057 — PROHIBITION ON USE OF PURCHASING COMPANY'S CAPITAL, SURPLUS, OR RESERVES

IN § 828.057Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 828. PURCHASE OF STOCK FOR TOTAL ASSUMPTION REINSURANCE · Art. B. EXCEPTION TO INVESTMENT LIMITATION

Statute text

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Amounts actually paid by the purchasing company for the purchase of shares acquired or obtained under this subchapter may not include the minimum capital, minimum surplus, and policy reserves required by law for the purchasing company.

Legislative history

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