Tex. Ins. Code § 823.258

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 823.258 - Disposition of Investment in Subsidiary After Cessation of Control
(a) An insurer that ceases to control a subsidiary shall dispose of any investment in the subsidiary made under this subchapter before the third anniversary of the date the insurer ceases to control the subsidiary, unless:
(1) at any time after the investment is made the investment qualifies for investment under another provision of this code; and
(2) the insurer notifies the commissioner of that qualification.
(b) The commissioner may extend the period under Subsection (a) during which disposition is required.

Tex. Ins. Code § 823.258

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