Texas Insurance Code 1272.155 – Form of Reserves
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Terms Used In Texas Insurance Code 1272.155
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
The reserves required under this subchapter must be:
(1) secured by and consist only of United States legal tender or bonds of the United States or this state;
(2) held at a financial institution in this state that is chartered by the United States or this state; and
(3) held in trust for, for the benefit of, or to provide health care services to enrollees under the delegation agreement.