Tex. Insurance Code § 424.217
This is the official text of Tex. Insurance Code § 424.217, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 424.217. AUTHORITY TO ENTER REPLICATION TRANSACTION.
Official statutory text
(a) An insurer may enter into a replication transaction only with the prior written approval of the commissioner.
(b) To be eligible for approval by the commissioner:
(1) the insurer must be otherwise authorized to invest the insurer's funds under this chapter in the asset being replicated; and
(2) the asset being replicated must be subject to all the provisions of this subchapter relating to the making of the transaction by the insurer with respect to that kind of asset as if the transaction constituted a direct investment by the insurer in the replicated asset.
(c) The commissioner may adopt rules regarding replication transactions as necessary to implement this section.
(b) To be eligible for approval by the commissioner:
(1) the insurer must be otherwise authorized to invest the insurer's funds under this chapter in the asset being replicated; and
(2) the asset being replicated must be subject to all the provisions of this subchapter relating to the making of the transaction by the insurer with respect to that kind of asset as if the transaction constituted a direct investment by the insurer in the replicated asset.
(c) The commissioner may adopt rules regarding replication transactions as necessary to implement this section.
Status: in_force · Read it on the official government site
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