Tex. Insurance Code § 882.306
This is the official text of Tex. Insurance Code § 882.306, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 882.306. IMPAIRMENT OF UNENCUMBERED SURPLUS; APPOINTMENT OF RECEIVER.
Official statutory text
(a) If one-half or more of a mutual life insurance company's unencumbered surplus as required by Section 882.301 is impaired, the commissioner may apply to a court for the appointment of a receiver to wind up the affairs of the company.
(b) In determining whether a company's surplus is impaired, the company shall compute its reserve liability in the manner provided by state law.
(b) In determining whether a company's surplus is impaired, the company shall compute its reserve liability in the manner provided by state law.
Status: in_force · Read it on the official government site
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