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Tex. Insurance Code § 841.203

COMPANY'S REPURCHASE OF STOCK

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 841.203, COMPANY'S REPURCHASE OF STOCK, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679304
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(a) A legal reserve life insurance company may purchase in the name of the company outstanding shares of the company's capital stock as provided by the Texas Business Corporation Act. (b) A purchase of stock under this section is not considered an investment and does not violate the provisions of this code relating to eligible investments for a legal reserve life insurance company. (c) A legal reserve life insurance company that purchases stock under this section shall file with the department not later than the 10th day after the date of the purchase a statement that contains: (1) the name of each shareholder from whom the shares were purchased; and (2) the sum of money paid for those shares.