Texas § IN.941.153 - ACCRUAL OF PROFITS

Full text of Texas The Texas Constitution § IN.941.153 — ACCRUAL OF PROFITS, with citation guidance and answers to common questions.

§ IN.941.153. ACCRUAL OF PROFITS

ACCRUAL OF PROFITS. The profits of a Lloyd's plan may accrue to an underwriter only on the basis of the underwriter's actual investment in cash or convertible securities, without regard to any obligation or subscription of the underwriter to pay additional cash or securities in the future. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

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

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Frequently Asked Questions About Texas § IN.941.153

What does The Texas Constitution § IN.941.153 cover?

Section IN.941.153 ("ACCRUAL OF PROFITS") 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.941.153?

A common citation format is "The Texas Constitution § IN.941.153" (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.941.153 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.