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Texas Insurance Code - Section 423.105. Mandatory Deposit Of Securities; Commissioner Control

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 423.105. Mandatory Deposit Of Securities; Commissioner Control

§ 423.105. MANDATORY DEPOSIT OF SECURITIES;  COMMISSIONER 
CONTROL.  (a) An insurer that is required to deposit securities as 
a condition of engaging in the business of insurance in this state 
may deposit the securities with a clearing corporation or in the 
Federal Reserve book-entry system.
	(b)  Securities under Subsection (a) are under the 
commissioner's control and may not be withdrawn by the insurer 
without the commissioner's approval. 

Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.           

Last modified: August 11, 2007