Section 882.306 - Impairment of Unencumbered Surplus; Appointment of Receiver(a) If one-half or more of a mutual life insurance company's unencumbered surplus as required by Section 882.301 is impaired, the commissioner may apply to a court for the appointment of a receiver to wind up the affairs of the company.(b) In determining whether a company's surplus is impaired, the company shall compute its reserve liability in the manner provided by state law.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.