Texas § IN.942.155 - FINANCIAL REQUIREMENTS
Full text of Texas The Texas Constitution § IN.942.155 — FINANCIAL REQUIREMENTS, with citation guidance and answers to common questions.
§ IN.942.155. FINANCIAL REQUIREMENTS
FINANCIAL REQUIREMENTS. (a) An exchange shall maintain at all times an unencumbered surplus over and above all liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaged in the same kinds of business. (b) An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business. (c) An exchange shall maintain the required assets as to: (1) minimum surplus requirements, as provided by Section 822.204 ; and (2) other funds, as provided by the provisions of Subchapter B , Chapter 424 , other than Sections 424.052 , 424.072 , and 424.073 . Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 2E.120, eff. April 1, 2009.
Frequently Asked Questions About Texas § IN.942.155
What does The Texas Constitution § IN.942.155 cover?
Section IN.942.155 ("FINANCIAL REQUIREMENTS") 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.942.155?
A common citation format is "The Texas Constitution § IN.942.155" (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.942.155 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.