Texas Insurance Code - Section 402.051. Acquisitions And Dispositions Considered Material
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§ 402.051. ACQUISITIONS AND DISPOSITIONS CONSIDERED
MATERIAL. For purposes of this chapter, an acquisition, or the
aggregate of a series of related acquisitions during a 30-day
period, or a disposition, or the aggregate of a series of related
dispositions during a 30-day period, is material if it:
(1) is not recurring;
(2) is not in the ordinary course of business; and
(3) involves more than five percent of the reporting
insurer's or health maintenance organization's total admitted
assets as reported in the insurer's or health maintenance
organization's most recent statutory statement filed with the
department.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 401.156 401.201 402.001 402.002 402.003 402.004 402.005 402.051 402.052 402.053 402.101 402.102 402.103 402.104 403.001
Last modified: August 11, 2007
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