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Texas Insurance Code - Section 424.213. Limitation On Sale Of Call Option On Assets

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 424.213. Limitation On Sale Of Call Option On Assets

§ 424.213. LIMITATION ON SALE OF CALL OPTION ON 
ASSETS.  If an income generation transaction is a sale of a call 
option on assets, the insurer must, during the entire period the 
option is outstanding, hold, or have a currently exercisable right 
to acquire, the underlying assets.

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

Last modified: August 10, 2007