Texas § IN.406.006 - SUBSTITUTION OR WITHDRAWAL OF DEPOSIT
Full text of Texas The Texas Constitution § IN.406.006 — SUBSTITUTION OR WITHDRAWAL OF DEPOSIT, with citation guidance and answers to common questions.
§ IN.406.006. SUBSTITUTION OR WITHDRAWAL OF DEPOSIT
SUBSTITUTION OR WITHDRAWAL OF DEPOSIT. (a) An insurer may file a written application with the commissioner requesting: (1) withdrawal of all or part of the deposit held by the comptroller under this chapter; or (2) substitution of all or part of the deposited securities held by the comptroller under this chapter. (b) The application must state the basis for the request to withdraw the deposit or to substitute the deposited security. (c) An insurer's application for the substitution of a deposited security must provide specific information regarding the security to be deposited as a substitute for the security held by the comptroller. (d) The commissioner shall issue a letter approving or an order denying an application under this section not later than the 30th day after the date the department receives the application. If the commissioner does not approve or deny the application within that period, the application is denied. (e) The commissioner may, in the commissioner's sole discretion, approve an application to withdraw a deposit or substitute a deposited security if the commissioner determines that the withdrawal or substitution will not be hazardous to the insurer's policyholders, enrollees, or creditors, or to the public. (f) The comptroller may not release a deposit made under this chapter, or any part of the deposit, and may not accept a substitute for a deposited security unless the commissioner issues a letter approving the withdrawal or substitution. Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 1C.001, eff. April 1, 2009. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 553 (S.B. 631 ), Sec. 1, eff. June 14, 2013.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.406.006
What does The Texas Constitution § IN.406.006 cover?
Section IN.406.006 ("SUBSTITUTION OR WITHDRAWAL OF 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.406.006?
A common citation format is "The Texas Constitution § IN.406.006" (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.406.006 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.