Sec. 404.051. IMPAIRMENT PROHIBITED. (a) The impairment of the capital stock of a stock insurance company is prohibited. (b) Impairment of the following surpluses in excess of that provided by Section 404.053 is prohibited: (1) the surplus of a stock insurance company; or (2) the minimum required aggregate surplus of a: (A) mutual company; (B) Lloyd's plan; or (C) reciprocal or interinsurance exchange. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Impairment Prohibited
Tex. Insurance Code § 404.051, under Financial Condition.
Tex. Insurance Code § 404.051