Texas § IN.861.253 - INTEREST ON SECURITY DEPOSITS

Full text of Texas The Texas Constitution § IN.861.253 — INTEREST ON SECURITY DEPOSITS, with citation guidance and answers to common questions.

§ IN.861.253. INTEREST ON SECURITY DEPOSITS

INTEREST ON SECURITY DEPOSITS. (a) A general casualty company with securities on deposit under this chapter is entitled to collect the interest on the deposits as the interest becomes due. The comptroller shall deliver to the company the coupons or other evidence of interest pertaining to the deposits. (b) The comptroller shall collect a general casualty company's interest described by Subsection (a) as the interest becomes due and hold that interest as additional security if: (1) the company fails to deposit additional security as required by the commissioner; or (2) proceedings are pending to wind up or enjoin the company. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

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Frequently Asked Questions About Texas § IN.861.253

What does The Texas Constitution § IN.861.253 cover?

Section IN.861.253 ("INTEREST ON SECURITY DEPOSITS") 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.861.253?

A common citation format is "The Texas Constitution § IN.861.253" (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.861.253 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.