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Tex. Ins. Code § 423.108

LIMITATION ON ASSETS DEPOSITED WITH CLEARING CORPORATION

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

The commissioner by rule may adopt a reasonable limit on the percentage of a domestic insurer's assets that may be deposited with a clearing corporation. The limit may not exceed five percent of the insurer's total assets, as shown by the insurer's annual statement filed with the department for the year preceding the year for which the limit is adopted.

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