Texas § IN.984.101 - DEPOSIT WITH COMPTROLLER REQUIRED

Full text of Texas The Texas Constitution § IN.984.101 — DEPOSIT WITH COMPTROLLER REQUIRED, with citation guidance and answers to common questions.

§ IN.984.101. DEPOSIT WITH COMPTROLLER REQUIRED

DEPOSIT WITH COMPTROLLER REQUIRED. (a) A Mexican casualty insurance company shall deposit with the comptroller at least $25,000 in: (1) United States currency; or (2) securities that are: (A) eligible for other casualty insurance companies authorized to engage in the business of insurance in this state; and (B) approved by the department. (b) The deposit shall be used to pay any lawful claim or final judgment against the company, including any claim or judgment for tax due to this state and any policy claim or other debt or obligation incurred in the course of the company's operations as provided by this chapter. (c) The company shall periodically deposit additional currency or securities described by Subsection (a) as necessary to maintain a minimum total deposit of $25,000. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Related Texas Legal Topics

Frequently Asked Questions About Texas § IN.984.101

What does The Texas Constitution § IN.984.101 cover?

Section IN.984.101 ("DEPOSIT WITH COMPTROLLER REQUIRED") 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.984.101?

A common citation format is "The Texas Constitution § IN.984.101" (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.984.101 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.