Tex. Insurance Code § 861.251
This is the official text of Tex. Insurance Code § 861.251, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 861.251. MINIMUM CAPITAL AND SURPLUS.
Official statutory text
(a) A general casualty company must have at least the minimum capital and surplus applicable to casualty, fidelity, guaranty, surety, and trust companies under Sections 822. 054, 822.210, and 822.211. At the time of incorporation, the required capital and surplus must be in cash.
(b) After incorporation and issuance of a certificate of authority, a general casualty company shall invest the minimum capital and surplus as provided by Section 822.204. The company shall invest all other funds of the company in excess of the minimum capital and surplus as provided by:
(1) a provision of Subchapter B, Chapter 424, other than Section 424.052, 424.072, or 424.073; and
(2) Section 862.002.
(c) A general casualty company may not loan any part of the company's capital or paid in surplus to an officer of the company.
(b) After incorporation and issuance of a certificate of authority, a general casualty company shall invest the minimum capital and surplus as provided by Section 822.204. The company shall invest all other funds of the company in excess of the minimum capital and surplus as provided by:
(1) a provision of Subchapter B, Chapter 424, other than Section 424.052, 424.072, or 424.073; and
(2) Section 862.002.
(c) A general casualty company may not loan any part of the company's capital or paid in surplus to an officer of the company.
Status: in_force · Read it on the official government site
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