Tex. Insurance Code § 424.155
COLLATERAL REQUIREMENTS
Texas · Texas Insurance Code · Status: effective
Cite this
- Citation
- Tex. Insurance Code § 424.155, COLLATERAL REQUIREMENTS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677484
- Permanent ID
ys:prov:677484@1- SHA-256
6ea454a70359dd013f90b86c9b680e5eaef79e555f4de029099e59ecc4d2c99d
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) While a transaction under this subchapter is outstanding, the insurer or the insurer's agent or custodian shall maintain, as to acceptable collateral received in the transaction, either physically or through the book-entry system of the Federal Reserve, Depository Trust Company, Participants Trust Company, or another securities depository approved by the commissioner:
(1) possession of the collateral;
(2) a perfected security interest in the collateral; or
(3) in the case of a jurisdiction outside of the United States, title to, or the rights of a secured creditor to, the collateral.
(b) The amount of collateral required for repurchase, reverse repurchase, and securities lending transactions is the amount required under the Purposes and Procedures Manual of the securities valuation office or a successor publication.