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Tex. Insurance Code § 423.105

MANDATORY DEPOSIT OF SECURITIES; COMMISSIONER CONTROL

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 423.105, MANDATORY DEPOSIT OF SECURITIES; COMMISSIONER CONTROL, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677429
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(a) An insurer that is required to deposit securities as a condition of engaging in the business of insurance in this state may deposit the securities with a clearing corporation or in the Federal Reserve book-entry system. (b) Securities under Subsection (a) are under the commissioner's control and may not be withdrawn by the insurer without the commissioner's approval.