Tex. Insurance Code § 982.253
IMPAIRMENT OF TRUSTEED SURPLUS
Texas · Texas Insurance Code · Status: effective
Cite this
- Citation
- Tex. Insurance Code § 982.253, IMPAIRMENT OF TRUSTEED SURPLUS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680720
- Permanent ID
ys:prov:680720@1- SHA-256
9a81c5611ef0527680aaf91810eb02286431299a9134f8c4f9f3c8158edbc675
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) If the commissioner determines from a statement filed under Section 982.252 or any report that an alien insurance company's trusteed surplus is less than the greater of the minimum capital required of, or the minimum surplus required to be maintained by, a domestic insurance company authorized to engage in the same kinds of insurance, the commissioner shall:
(1) determine the amount of the impairment; and
(2) order the company, through its United States manager or attorney, to eliminate the impairment within the period designated by the commissioner.
(b) The period for eliminating an impairment under Subsection (a) must end not later than the 90th day after the date the order is served.
(c) The commissioner may also by order revoke or suspend an alien insurance company's certificate of authority or prohibit the company from issuing new policies in the United States while an impairment under Subsection (a) exists.