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Texas Insurance Code - Chapter 423 Transactions With Money And Other AssetsLegal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Chapter 423 Transactions With Money And Other Assets (a) This chapter applies to a domestic insurer regulated under this code, including: (1) a stock company; (2) a reciprocal or interinsurance exchange; (3) a ... This chapter controls to the extent of an ambiguity or a conflict between this chapter and another provision of this code. Added by Acts 2005, ... The commissioner may adopt rules necessary to implement this chapter. Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007. ... A director, member of a committee, officer, or clerk of a domestic insurer who has the duty to handle or invest the insurer's money may ... (a) Only a domestic insurer and an affiliate, as described by Section 823.003, may hold money in a pooling account. (b) The accounting and operating ... A reinsurance agreement between a domestic insurer and an affiliate, as described by Section 823.003, must specifically authorize the deposit of money from premiums to ... In this subchapter, "clearing corporation" means: (1) a clearing corporation as defined by Section 8.102(a), Business & Commerce Code; or (2) a clearance system that: ... (a) A domestic insurer that has securities held in or purchased for the insurer's general account or separate accounts may deposit the securities or arrange ... A domestic insurer's securities that are held under a custodial agreement or trust agreement with a bank, Federal Home Loan Bank, or trust company may ... (a) A domestic insurer may demonstrate ownership of a security through a definitive certificate or in accordance with rules adopted under this section. (b) The ... (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 ... (a) An insurer that deposits securities under Section 423.105 shall provide evidence to the commissioner to establish that: (1) the securities are recorded in an ... A domestic insurer may deposit assets with a clearing corporation only if: (1) the insurer is a member of an insurance holding company system that ... 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. ... Last modified: August 10, 2007 |