Texas § IN.423.004 - STATUTORY DEPOSITS WITH DEPARTMENT
Full text of Texas The Texas Constitution § IN.423.004 — STATUTORY DEPOSITS WITH DEPARTMENT, with citation guidance and answers to common questions.
§ IN.423.004. STATUTORY DEPOSITS WITH DEPARTMENT
STATUTORY DEPOSITS WITH DEPARTMENT. (a) Except as provided by Subsection (c), notwithstanding any requirement under this code that an insurer deposit with the comptroller money or other assets for the security of an insurer's policyholders or creditors, including a deposit required by another state, an insurer may deposit the required money or other assets with the department in accordance with this section. (b) A deposit authorized by Subsection (a): (1) must be approved by the commissioner; (2) is subject to any requirements applicable to the type of deposit; (3) must be held under the commissioner's control; and (4) may not be substituted or withdrawn by the insurer without the commissioner's approval. (c) This section does not apply to any deposit made under Chapter 406 or a deposit of fees or taxes under this code. Added by Acts 2015, 84th Leg., R.S., Ch. 263 (S.B. 1427 ), Sec. 1, eff. September 1, 2015. SUBCHAPTER B. TRANSACTIONS WITH MONEY
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.423.004
What does The Texas Constitution § IN.423.004 cover?
Section IN.423.004 ("STATUTORY DEPOSITS WITH DEPARTMENT") 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.423.004?
A common citation format is "The Texas Constitution § IN.423.004" (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.423.004 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.