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Texas Insurance Code - Section 423.108. Limitation On Assets Deposited With Clearing Corporation

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 423.108. Limitation On Assets Deposited With Clearing Corporation

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§ 423.108. LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION. The commissioner by rule may adopt a reasonable limit on the percentage of a domestic insurer's assets that may be deposited with a clearing corporation. The limit may not exceed five percent of the insurer's total assets, as shown by the insurer's annual statement filed with the department for the year preceding the year for which the limit is adopted. Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.

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Last modified: August 11, 2007