Texas § IN.406.004 - REQUIRED DEPOSIT
Full text of Texas The Texas Constitution § IN.406.004 — REQUIRED DEPOSIT, with citation guidance and answers to common questions.
§ IN.406.004. REQUIRED DEPOSIT
REQUIRED DEPOSIT: FORM OF SECURITY. A deposit required under Section 406.003 must be made with the comptroller and approved by the commissioner. The deposit must be made in: (1) cash; (2) securities authorized under this code to be a legal investment for the insurer that: (A) are readily marketable over a national exchange with a maturity date of not more than one year, are listed by the Securities Valuation Office of the National Association of Insurance Commissioners, and qualify as admitted assets; or (B) are clean, irrevocable, and unconditional letters of credit issued or confirmed by a financial institution organized and licensed under the laws of the United States or a state of the United States; or (3) another form of security acceptable to the commissioner. Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 1C.001, eff. April 1, 2009.
Frequently Asked Questions About Texas § IN.406.004
What does The Texas Constitution § IN.406.004 cover?
Section IN.406.004 ("REQUIRED DEPOSIT") 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.406.004?
A common citation format is "The Texas Constitution § IN.406.004" (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.406.004 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.