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Tex. Insurance Code § 823.104

PROHIBITION OF ACTION TO AVOID APPLICATION OF SUBCHAPTER

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 823.104, PROHIBITION OF ACTION TO AVOID APPLICATION OF SUBCHAPTER, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679045
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(a) A domestic insurer may not enter into transactions with persons in the insurer's insurance holding company system if: (1) the transactions are part of a plan or series of similar transactions; and (2) the purpose of entering into the transactions is to avoid a threshold amount provided by Section 823.103. (b) If the commissioner determines that over any 12-month period a domestic insurer enters into transactions that violate Subsection (a), the commissioner may: (1) consider the cumulative effect of the transactions; and (2) apply: (A) Section 823.103; or (B) sanctions under this code.