Tex. Ins. Code § 424.213
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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.
Tex. Ins. Code § 424.213