Texas § IN.424.155 - COLLATERAL REQUIREMENTS
Full text of Texas The Texas Constitution § IN.424.155 — COLLATERAL REQUIREMENTS, with citation guidance and answers to common questions.
§ IN.424.155. COLLATERAL REQUIREMENTS
COLLATERAL REQUIREMENTS. (a) While a transaction under this subchapter is outstanding, the insurer or the insurer's agent or custodian shall maintain, as to acceptable collateral received in the transaction, either physically or through the book-entry system of the Federal Reserve, Depository Trust Company, Participants Trust Company, or another securities depository approved by the commissioner: (1) possession of the collateral; (2) a perfected security interest in the collateral; or (3) in the case of a jurisdiction outside of the United States, title to, or the rights of a secured creditor to, the collateral. (b) The amount of collateral required for repurchase, reverse repurchase, and securities lending transactions is the amount required under the Purposes and Procedures Manual of the securities valuation office or a successor publication. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.
Frequently Asked Questions About Texas § IN.424.155
What does The Texas Constitution § IN.424.155 cover?
Section IN.424.155 ("COLLATERAL REQUIREMENTS") 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.424.155?
A common citation format is "The Texas Constitution § IN.424.155" (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.424.155 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.