Texas Insurance Code 882.303 – Unencumbered Surplus Less Than $25,000
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Insurance Code 882.303
- Year: means 12 consecutive months. See Texas Government Code 311.005
A mutual life insurance company whose unencumbered surplus is less than $25,000 shall allocate at least 25 percent of the company’s net earned surplus for the preceding calendar year to the company’s unencumbered surplus until the company has obtained an unencumbered surplus of at least $25,000.