Texas § IN.422.052 - REPORT TO COMMISSIONER
Full text of Texas The Texas Constitution § IN.422.052 — REPORT TO COMMISSIONER, with citation guidance and answers to common questions.
§ IN.422.052. REPORT TO COMMISSIONER
REPORT TO COMMISSIONER. (a) Not later than the 10th day after the date an insurer pledges or otherwise encumbers an asset, the insurer shall report in writing to the commissioner: (1) the amount and identity of the pledged or encumbered asset; and (2) the terms of the transaction. (b) Annually, or more often as required by the commissioner, the insurer shall file with the commissioner a statement sworn to by the insurer's chief executive officer that: (1) title to assets that equal the amount of the insurer's policy reserve liabilities and that are not pledged or otherwise encumbered is vested in the insurer; (2) the only assets of the insurer that are pledged or otherwise encumbered are those identified and reported in the sworn statement, and no other assets of the insurer are pledged or otherwise encumbered; and (3) the terms of the transaction pledging or otherwise encumbering the assets are those reported in the sworn statement. (c) The insurer is not required to file the report described by Subsection (a) for a pledge or encumbrance permitted in a transaction approved by the commissioner under Section 1152.055 . Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007. Amended by: Acts 2021, 87th Leg., R.S., Ch. 61 (S.B. 1954 ), Sec. 6, eff. September 1, 2021.
Frequently Asked Questions About Texas § IN.422.052
What does The Texas Constitution § IN.422.052 cover?
Section IN.422.052 ("REPORT TO COMMISSIONER") 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.422.052?
A common citation format is "The Texas Constitution § IN.422.052" (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.422.052 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.