Tex. Insurance Code § 841.351
This is the official text of Tex. Insurance Code § 841.351, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 841.351. DEPOSIT WITH COMPTROLLER.
Official statutory text
(a) A domestic insurance company may, at its option, deposit with the comptroller either:
(1) securities in which the company's capital stock is invested; or
(2) securities in an amount equal to the amount of the company's capital stock.
(b) Securities deposited under Subsection (a) must be securities of a class authorized by the laws of this state for investments of a domestic insurance company's capital stock.
(c) A domestic insurance company may, at its option, withdraw a deposit made under Subsection (a), or any portion of the deposit, after substituting a deposit of securities of a like class and of an amount and value equal to the withdrawn deposit or portion of deposit.
(d) The commissioner must first approve any securities deposited or being substituted under this section.
(1) securities in which the company's capital stock is invested; or
(2) securities in an amount equal to the amount of the company's capital stock.
(b) Securities deposited under Subsection (a) must be securities of a class authorized by the laws of this state for investments of a domestic insurance company's capital stock.
(c) A domestic insurance company may, at its option, withdraw a deposit made under Subsection (a), or any portion of the deposit, after substituting a deposit of securities of a like class and of an amount and value equal to the withdrawn deposit or portion of deposit.
(d) The commissioner must first approve any securities deposited or being substituted under this section.
Status: in_force · Read it on the official government site
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