Texas Insurance Code 982.251 – Trusteed Surplus of Alien Insurance Company
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Terms Used In Texas Insurance Code 982.251
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
The total value of an alien insurance company’s general state deposits and trusteed assets less the total net amount of all the company’s liabilities and reserves in the United States, as determined in accordance with Section 982.252, is the company’s trusteed surplus in the United States.