Texas § IN.884.456 - INCREASE OF RESERVES

Full text of Texas The Texas Constitution § IN.884.456 — INCREASE OF RESERVES, with citation guidance and answers to common questions.

§ IN.884.456. INCREASE OF RESERVES

INCREASE OF RESERVES. (a) If a stipulated premium company does not have the reserves required by this subchapter and the minimum capital required under this chapter, the company's board of directors by appropriate action shall increase premium rates on policies in force by advancing the age of each insured at the date the insured's policy is issued or otherwise equitably adjust premium rates to correct the reserve inadequacy. The board shall take that action not later than the 30th day after the date the reserves are computed. (b) If the board of directors does not comply with Subsection (a), the stipulated premium company is treated as if the company had not corrected an impairment under Section 884.205 (a). Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. SUBCHAPTER K. DIRECT REINSURANCE AGREEMENTS

Source: official Texas text · Last verified 2026-08-27

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Frequently Asked Questions About Texas § IN.884.456

What does The Texas Constitution § IN.884.456 cover?

Section IN.884.456 ("INCREASE OF RESERVES") 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.

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