Texas Insurance Code - Section 402.053. Content Of Report Concerning Material Acquisitions And Dispositions
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§ 402.053. CONTENT OF REPORT CONCERNING MATERIAL
ACQUISITIONS AND DISPOSITIONS. In a report of a material
acquisition or disposition of assets under Section 402.002, an
insurer or health maintenance organization shall disclose:
(1) the date of the transaction;
(2) the manner of acquisition or disposition;
(3) a description of the assets involved;
(4) the nature and amount of the consideration given
or received;
(5) the purpose of the transaction;
(6) the manner by which the amount of consideration
was determined;
(7) the gain or loss recognized or realized as a result
of the transaction; and
(8) the name of each person from whom the assets were
acquired or to whom they were disposed.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 402.001 402.002 402.003 402.004 402.005 402.051 402.052 402.053 402.101 402.102 402.103 402.104 403.001 403.002 403.051
Last modified: August 11, 2007
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