Texas § IN.403.053 - ACQUIRED EARNED SURPLUS
Full text of Texas The Texas Constitution § IN.403.053 — ACQUIRED EARNED SURPLUS, with citation guidance and answers to common questions.
§ IN.403.053. ACQUIRED EARNED SURPLUS
ACQUIRED EARNED SURPLUS. (a) This section applies only to: (1) a stock domestic insurance company authorized to engage in the business of life, accident, or health insurance in this state; (2) a stock foreign or alien life, health, or accident insurance company; (3) a stock insurance company authorized to engage in the business of property, casualty, or fire insurance; and (4) a domestic Lloyd's plan, reciprocal or interinsurance exchange, or title insurance company. (b) In determining the amount of "surplus profits arising from the insurer's business" or "earned surplus" for the purpose of paying dividends to shareholders, the insurer may include the acquired earned surplus of an insurance subsidiary acquired by the insurer to the extent that: (1) the inclusion is permitted by an order of the commissioner made in accordance with commissioner rules; and (2) the earned surplus of the acquired subsidiary on the date of acquisition that exists on the date of the commissioner's order is not otherwise reflected in the insurer's earned surplus. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007. SUBCHAPTER C. PENALTIES
Frequently Asked Questions About Texas § IN.403.053
What does The Texas Constitution § IN.403.053 cover?
Section IN.403.053 ("ACQUIRED EARNED SURPLUS") 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.403.053?
A common citation format is "The Texas Constitution § IN.403.053" (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.403.053 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.