Texas Insurance Code Title 4, Chapter 423 - Transactions With Money And Other Assets

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 423.001 - Applicability Of Chapter
  (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...
• Texas Section 423.002 - Ambiguities And Conflicts With Other Law
  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,...
• Texas Section 423.003 - Rules
  The commissioner may adopt rules necessary to implement this chapter. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1,

SUBCHAPTER B TRANSACTIONS WITH MONEY

• Texas Section 423.004 - Statutory Deposits With Department
  (a) Except as provided by Subsection (c), notwithstanding any requirement under this code that an insurer deposit with the comptroller money or other assets for...
• Texas Section 423.051 - Deposit And Investment Of Money
  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...
• Texas Section 423.052 - Money Held In Pooling Account
  (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...

SUBCHAPTER C TRANSACTIONS WITH OTHER ASSETS

• Texas Section 423.053 - Authority To Deposit Money In Account Of Reinsurer
  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...
• Texas Section 423.101 - Definition
  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:...
• Texas Section 423.102 - Deposit And Holding Of Securities
  (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...
• Texas Section 423.103 - Securities Held Under Custodial Or Trust Agreement
  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...
• Texas Section 423.104 - Proof Of Ownership Of Securities
  (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...
• Texas Section 423.105 - Mandatory Deposit Of Securities; Commissioner Control
  (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...
• Texas Section 423.106 - Required Evidence For Securities
  (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...
• Texas Section 423.107 - Assets Deposited With Clearing Corporation
  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...
• Texas Section 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....

Last modified: September 28, 2016