Texas § IN.427.052 - SUBORDINATED LIABILITY PERMITTED
Full text of Texas The Texas Constitution § IN.427.052 — SUBORDINATED LIABILITY PERMITTED, with citation guidance and answers to common questions.
§ IN.427.052. SUBORDINATED LIABILITY PERMITTED
SUBORDINATED LIABILITY PERMITTED. (a) An insurer or health maintenance organization may assume a subordinated liability for repayment of a loan or advance described by Section 427.051 and payment of interest on the loan or advance if the insurer or health maintenance organization and the creditor execute a written agreement stating that the creditor may be paid only out of that portion of the insurer's or health maintenance organization's surplus that exceeds the greater of: (1) a minimum surplus amount set in the agreement; or (2) a minimum surplus amount of $500,000. (b) The department or commissioner may not require the agreement to provide a minimum surplus amount that is different from the amount described by this section. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.
Frequently Asked Questions About Texas § IN.427.052
What does The Texas Constitution § IN.427.052 cover?
Section IN.427.052 ("SUBORDINATED LIABILITY PERMITTED") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.427.052?
A common citation format is "The Texas Constitution § IN.427.052" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.427.052 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.