Tex. Insurance Code § 942.155
This is the official text of Tex. Insurance Code § 942.155, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 942.155. FINANCIAL REQUIREMENTS.
Official statutory text
(a) An exchange shall maintain at all times an unencumbered surplus over and above all liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaged in the same kinds of business.
(b) An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business.
(c) An exchange shall maintain the required assets as to:
(1) minimum surplus requirements, as provided by Section 822.204; and
(2) other funds, as provided by the provisions of Subchapter B, Chapter 424, other than Sections 424.052, 424.072, and 424.073.
(b) An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business.
(c) An exchange shall maintain the required assets as to:
(1) minimum surplus requirements, as provided by Section 822.204; and
(2) other funds, as provided by the provisions of Subchapter B, Chapter 424, other than Sections 424.052, 424.072, and 424.073.
Status: in_force · Read it on the official government site
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