Prohibition On Use of Purchasing Company'S Capital, Surplus, Or Reserves

Sec. 828.057. PROHIBITION ON USE OF PURCHASING COMPANY'S CAPITAL, SURPLUS, OR RESERVES. Amounts actually paid by the purchasing company for the purchase of shares acquired or obtained under this subchapter may not include the minimum capital, minimum surplus, and policy reserves required by law for the purchasing company. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.