Tex. Insurance Code § 861.253
This is the official text of Tex. Insurance Code § 861.253, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 861.253. INTEREST ON SECURITY DEPOSITS.
Official statutory text
(a) A general casualty company with securities on deposit under this chapter is entitled to collect the interest on the deposits as the interest becomes due. The comptroller shall deliver to the company the coupons or other evidence of interest pertaining to the deposits.
(b) The comptroller shall collect a general casualty company's interest described by Subsection (a) as the interest becomes due and hold that interest as additional security if:
(1) the company fails to deposit additional security as required by the commissioner; or
(2) proceedings are pending to wind up or enjoin the company.
(b) The comptroller shall collect a general casualty company's interest described by Subsection (a) as the interest becomes due and hold that interest as additional security if:
(1) the company fails to deposit additional security as required by the commissioner; or
(2) proceedings are pending to wind up or enjoin the company.
Status: in_force · Read it on the official government site
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