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Tex. Insurance Code § 882.306

IMPAIRMENT OF UNENCUMBERED SURPLUS; APPOINTMENT OF RECEIVER

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 882.306, IMPAIRMENT OF UNENCUMBERED SURPLUS; APPOINTMENT OF RECEIVER, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679853
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(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.