Tex. Ins. Code § 823.153

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

Section 823.153 - Controller of Domestic Insurer Considered Domestic Insurer

For purposes of this subchapter, any person who controls a domestic insurer is considered to be a domestic insurer unless:

(1) the assets of all insurance subsidiaries of the person are equal to less than 20 percent of the person's consolidated assets;

(2) the gross revenues, including investment income, of all insurance subsidiaries of the person are equal to less than 20 percent of the person's consolidated gross revenues; and

(3) the shareholders' equity of all insurance subsidiaries of the person is equal to less than 20 percent of the person's consolidated shareholders' equity.

Tex. Ins. Code § 823.153

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.