Texas § IN.823.054 - MATERIAL INFORMATION
Full text of Texas The Texas Constitution § IN.823.054 — MATERIAL INFORMATION, with citation guidance and answers to common questions.
§ IN.823.054. MATERIAL INFORMATION
MATERIAL INFORMATION. (a) Information about a transaction is not required to be disclosed on a registration statement filed under Section 823.052 or in a report under Section 823.053 unless the transaction is considered to be material under this section. (b) If the amount of a single transaction or the total amount of all transactions involving sales, purchases, exchanges, loans or other extensions of credit, or investments is more than one-half of one percent of an insurer's admitted assets as of December 31 of the year preceding the date of the transaction or transactions, the transaction or transactions, respectively, are considered to be material for purposes of this section. (c) Each dividend or distribution to shareholders is material for the purposes of this section. (d) The commissioner, by rule or order, may provide a standard that is different from the standard provided by Subsection (b). Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2017, 85th Leg., R.S., Ch. 38 (H.B. 3220 ), Sec. 4, eff. May 19, 2017. Acts 2017, 85th Leg., R.S., Ch. 67 (S.B. 1073 ), Sec. 1, eff. May 22, 2017.
Frequently Asked Questions About Texas § IN.823.054
What does The Texas Constitution § IN.823.054 cover?
Section IN.823.054 ("MATERIAL INFORMATION") 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.823.054?
A common citation format is "The Texas Constitution § IN.823.054" (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.823.054 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.