Texas Insurance Code 425.101 – Definitions
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Terms Used In Texas Insurance Code 425.101
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
In this subchapter:
(1) “Assets” means the statutory accounting admitted assets of an insurance company. The term includes lawful money of the United States, whether in the form of cash or demand deposits in solvent banks, savings and loan associations, credit unions, and branches of those entities, organized under the laws of the United States or a state of the United States, if held in accordance with the laws or regulations applicable to those entities. The term does not include the company’s separate accounts that are subject to Chapter 1152.
(2) “Securities valuation office” means the Securities Valuation Office of the National Association of Insurance Commissioners.