Texas Insurance Code - Section 424.202. Risk Control Transactions Authorized
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§ 424.202. RISK CONTROL TRANSACTIONS AUTHORIZED. (a)
Except as provided by Subsection (b), an insurer may engage in a
risk control transaction authorized by this subchapter to:
(1) protect the insurer's assets against the risk of
changing asset values or interest rates;
(2) reduce risk; and
(3) generate income.
(b) An insurer with a statutory net capital and surplus as
determined by the insurer's most recent financial statement
required to be filed with the department that is less than the
minimum amount of capital and surplus required for a new charter and
certificate of authority for the same type of insurer may not engage
in a transaction authorized under this subchapter.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 424.152 424.153 424.154 424.155 424.156 424.157 424.201 424.202 424.203 424.204 424.205 424.206 424.207 424.208 424.209
Last modified: August 11, 2007
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