Public-domain · open source
OpenJurist

Tex. Ins. Code § 402.053

CONTENT OF REPORT CONCERNING MATERIAL ACQUISITIONS AND DISPOSITIONS

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff

In a report of a material acquisition or disposition of assets under Section 402.002, an insurer or health maintenance organization shall disclose:

(1) the date of the transaction;

(2) the manner of acquisition or disposition;

(3) a description of the assets involved;

(4) the nature and amount of the consideration given or received;

(5) the purpose of the transaction;

(6) the manner by which the amount of consideration was determined;

(7) the gain or loss recognized or realized as a result of the transaction; and

(8) the name of each person from whom the assets were acquired or to whom they were disposed.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.