Texas Insurance Code - Section 423.101. Definition
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§ 423.101. DEFINITION. In this subchapter, "clearing
corporation" means:
(1) a clearing corporation as defined by Section
8.102(a), Business & Commerce Code; or
(2) a clearance system that:
(A) is organized or operating under the laws of
at least one foreign country;
(B) provides for book-entry settlement and
custody of internationally traded securities; and
(C) has been organized and in operation for not
less than 15 consecutive years.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 422.054 423.001 423.002 423.003 423.051 423.052 423.053 423.101 423.102 423.103 423.104 423.105 423.106 423.107 423.108
Last modified: August 11, 2007
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