Texas Insurance Code

§ 884.207 — NEW BUSINESS PROHIBITED WHEN CAPITAL REQUIREMENTS NOT SATISFIED

IN § 884.207Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 884. STIPULATED PREMIUM INSURANCE COMPANIES · Art. E. CAPITAL AND SURPLUS

Statute text

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(a)A stipulated premium company may not write new business in this state unless the company possesses the minimum capital required under this chapter.

(b)A stipulated premium company subject to Section 884.205(a) that does not correct the impairment on or before the date provided by that subsection may not write new business in this state after that date until the impairment is corrected.

Legislative history

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