Texas Insurance Code 984.103 – Return of Deposit
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Terms Used In Texas Insurance Code 984.103
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
With the approval of the department, the comptroller shall return the deposit required under this subchapter, or the unencumbered balance of the deposit, to the Mexican casualty insurance company on:
(1) the company’s withdrawal from the business of insurance in this state; and
(2) a showing to the department that:
(A) each policy written by the company in this state has expired or been canceled; and
(B) each claim or obligation of the company on a policy written in this state that constitutes a lawful charge against the deposit has been satisfied.