Texas Insurance Code - Section 481.001. Deposit With Comptroller
Legal Research Home >
Texas Lawyer > Insurance Code > Texas Insurance Code - Section 481.001. Deposit With Comptroller
§ 481.001. DEPOSIT WITH COMPTROLLER. (a) An insurer
organized and engaged in business under this code that is required
by another state, country, or province as a condition of engaging in
an insurance business in that state, country, or province to make or
maintain a deposit with an officer of any state, country, or
province may, at the insurer's discretion, voluntarily deposit with
the comptroller cash or securities in an amount that is sufficient
to satisfy the conditions of the other state, country, or province.
(b) Any securities deposited must be approved by the
commissioner as being of a type and character in which the insurer
is authorized by law to invest.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 463.357 463.358 463.401 463.402 463.403 463.404 463.451 481.001 481.002 481.003 481.004 481.005 481.006 481.007 481.008
Last modified: August 10, 2007
|
