™Your Policy Risk Impact Agent
386 chapters · 7,822 sections in this title.
Tex. Insurance Code § 422.001 Short Title
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Sec. 422.001. SHORT TITLE. This chapter may be cited as the Asset Protection Act. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Tex. Insurance Code § 422.002 Purposes
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Sec. 422.002. PURPOSES. (a) The purposes of this chapter are to: (1) require an insurer to maintain unencumbered assets in an amount equal to the insurer's policy reserve liabilities; (2) provide preferential claims against assets in favor of an owner, beneficiary, assignee, cert…
Tex. Insurance Code § 422.003 Definitions
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Sec. 422.003. DEFINITIONS. In this chapter: (1) "Asset" means any property in which an insurer owns a legal or equitable interest that is reported as an asset in the domestic insurer's statutory financial statements most recently filed with the department. (2) "Claimant" means an…
Tex. Insurance Code § 422.004 Applicability of Chapter
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Sec. 422.004. APPLICABILITY OF CHAPTER. This chapter applies to: (1) the following domestic insurers: (A) a stock life, health, or accident insurance company; (B) a mutual life, health, or accident insurance company; (C) a stock fire or casualty insurance company; (D) a mutual fi…