Texas § IN.841.004 - NET ASSETS DEFINED
Full text of Texas The Texas Constitution § IN.841.004 — NET ASSETS DEFINED, with citation guidance and answers to common questions.
§ IN.841.004. NET ASSETS DEFINED
NET ASSETS DEFINED; RULES. (a) A company's "net assets" consist of the company's funds that are available for the payment of a company's obligations in this state, including: (1) uncollected premiums that are not more than three months past due and deferred premiums on policies actually in force, after the deduction of: (A) all unpaid losses and claims; (B) all claims for losses; and (C) all other debts, exclusive of capital stock; and (2) if the total value of the equipment exceeds $2,000, the value of all electronic machines that comprise a data processing system or systems and of all other office equipment, furniture, machines, and labor-saving devices purchased for and used in connection with the business of the insurance company to the extent that the total actual cash market value of those assets is less than 10 percent of the other admitted assets of the company. (b) The commissioner may adopt rules defining electronic machines and systems, office equipment, furniture, machines, and labor-saving devices described by Subsection (a) and stating the maximum period for which each class of equipment may be amortized. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. SUBCHAPTER B. FORMATION AND STRUCTURE OF DOMESTIC COMPANIES
Frequently Asked Questions About Texas § IN.841.004
What does The Texas Constitution § IN.841.004 cover?
Section IN.841.004 ("NET ASSETS DEFINED") 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.841.004?
A common citation format is "The Texas Constitution § IN.841.004" (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.841.004 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.