Tex. Insurance Code § 823.153
This is the official text of Tex. Insurance Code § 823.153, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 823.153. CONTROLLER OF DOMESTIC INSURER CONSIDERED DOMESTIC INSURER.
Official statutory text
For purposes of this subchapter, any person who controls a domestic insurer is considered to be a domestic insurer unless:
(1) the assets of all insurance subsidiaries of the person are equal to less than 20 percent of the person's consolidated assets;
(2) the gross revenues, including investment income, of all insurance subsidiaries of the person are equal to less than 20 percent of the person's consolidated gross revenues; and
(3) the shareholders' equity of all insurance subsidiaries of the person is equal to less than 20 percent of the person's consolidated shareholders' equity.
(1) the assets of all insurance subsidiaries of the person are equal to less than 20 percent of the person's consolidated assets;
(2) the gross revenues, including investment income, of all insurance subsidiaries of the person are equal to less than 20 percent of the person's consolidated gross revenues; and
(3) the shareholders' equity of all insurance subsidiaries of the person is equal to less than 20 percent of the person's consolidated shareholders' equity.
Status: in_force · Read it on the official government site
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