Tex. Ins. Code § 404.051

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 404.051 - Impairment Prohibited

(a) The impairment of the capital stock of a stock insurance company is prohibited.

(b) Impairment of the following surpluses in excess of that provided by Section 404.053 is prohibited:

(1) the surplus of a stock insurance company; or

(2) the minimum required aggregate surplus of a:

(A) mutual company;

(B) Lloyd's plan; or

(C) reciprocal or interinsurance exchange.

Tex. Ins. Code § 404.051

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.