Texas § IN.825.052 - SUFFICIENT ASSETS REQUIRED
Full text of Texas The Texas Constitution § IN.825.052 — SUFFICIENT ASSETS REQUIRED, with citation guidance and answers to common questions.
§ IN.825.052. SUFFICIENT ASSETS REQUIRED
SUFFICIENT ASSETS REQUIRED. The commissioner may not approve a stock acquisition plan or a payment for stock under Section 825.051 (b) unless, at the time of the approval, the company has assets equal to at least $500,000 more than the entire liability of the company, including the net values of its outstanding contracts computed as required by law, and all funds and contingent reserves, after deducting: (1) the aggregate amount allocated by the plan for the acquisition of any part or all of its capital stock, to be paid in cash or other assets of the company; and (2) the amount of any payment not set by the plan and subject to separate approval by the commissioner after the approval of the plan. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.825.052
What does The Texas Constitution § IN.825.052 cover?
Section IN.825.052 ("SUFFICIENT ASSETS REQUIRED") 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.825.052?
A common citation format is "The Texas Constitution § IN.825.052" (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.825.052 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.