Tex. Insurance Code § 882.402
This is the official text of Tex. Insurance Code § 882.402, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 882.402. EXCESS CONTINGENCY RESERVE.
Official statutory text
(a) The commissioner, for good cause shown, may issue an order authorizing a mutual life insurance company to maintain a contingency reserve that exceeds the amount of the reserve authorized by Section 882.401.
(b) The order must state:
(1) a period not exceeding one year during which the company may maintain the excess contingency reserve; and
(2) each reason for authorizing the excess contingency reserve.
(b) The order must state:
(1) a period not exceeding one year during which the company may maintain the excess contingency reserve; and
(2) each reason for authorizing the excess contingency reserve.
Status: in_force · Read it on the official government site
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