Texas Insurance Code
§ 861.255 — RULES REGARDING CERTAIN ASSETS
IN § 861.255Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part D. CASUALTY COMPANIES · Ch. 861. GENERAL CASUALTY COMPANIES · Art. F. REGULATION OF GENERAL CASUALTY COMPANY
Statute text
View on source(a)The value of the electronic machines and systems, office equipment, furniture, other machines, and labor-saving devices specified in Section 861.254(c)(9), as determined under this section and in accordance with rules adopted by the commissioner, is an admitted asset of the company.
(b)The commissioner may adopt rules defining electronic machines and systems, office equipment, furniture, other machines, and labor-saving devices as specified in Section 861.254(c)(9) and stating the maximum period for which each class of equipment may be amortized.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.