Texas § IN.427.055 - PAYMENT OF PRINCIPAL OR INTEREST ON CERTAIN LIABILITIES
Full text of Texas The Texas Constitution § IN.427.055 — PAYMENT OF PRINCIPAL OR INTEREST ON CERTAIN LIABILITIES, with citation guidance and answers to common questions.
§ IN.427.055. PAYMENT OF PRINCIPAL OR INTEREST ON CERTAIN LIABILITIES
PAYMENT OF PRINCIPAL OR INTEREST ON CERTAIN LIABILITIES. (a) An insurer or health maintenance organization may not pay principal or interest on a subordinated liability assumed under Section 427.052 or Subchapter C , Chapter 823 , on or after September 1, 1995, unless: (1) the payment complies with a schedule of payments contained in the agreement approved by the commissioner in accordance with Section 427.052 or Subchapter C , Chapter 823 ; or (2) if the payment does not comply with the schedule of payments contained in the agreement or the agreement does not contain a payment schedule, the insurer or health maintenance organization provides written notice to the commissioner not later than the 15th day before the scheduled payment date. (b) A loan, debenture, revenue bond, or advance agreement issued to an insurer or health maintenance organization before September 1, 1995, and any subsequent payment of principal or interest on the indebtedness are governed by the law in effect on the date of issuance. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.427.055
What does The Texas Constitution § IN.427.055 cover?
Section IN.427.055 ("PAYMENT OF PRINCIPAL OR INTEREST ON CERTAIN LIABILITIES") 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.427.055?
A common citation format is "The Texas Constitution § IN.427.055" (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.427.055 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.