SURPLUS REQUIREMENTS.
Tex. INS Code § 911.308.
in effect(a) A farm mutual insurance company organized between January 1, 1955, and May 21, 1973, shall maintain an unencumbered surplus of $2 for each $100 of insurance in force or an unencumbered surplus of $200,000, whichever amount is less.
(b) A farm mutual insurance company organized under this chapter on or after May 21, 1973, shall maintain an unencumbered surplus in cash of $2 for each $100 of insurance in force or an unencumbered surplus of $200,000, whichever amount is greater.
(c) A company described by Subsection (b) shall invest the minimum unencumbered surplus as provided by Section 822.204 . The company may invest funds in excess of the minimum unencumbered surplus as provided by the provisions of Subchapter B , Chapter 424 , other than Sections 424.052 , 424.072 , and 424.073 .
(d) A company described by Subsection (b) shall, without delay, restore the minimum unencumbered surplus if the surplus is impaired. The department shall proceed as provided by Subchapter B , Chapter 404 .
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.