Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Insurance Code § 941.153: ACCRUAL OF PROFITS.

Where this section sits in the code

INSURANCE CODE
TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
SUBTITLE G. LLOYD'S PLAN AND RECIPROCAL AND INTERINSURANCE EXCHANGES
CHAPTER 941. LLOYD'S PLAN
SUBCHAPTER D. OPERATION, POWERS, AND DUTIES OF LLOYD'S PLAN

The profits of a Lloyd's plan may accrue to an underwriter only on the basis of the underwriter's actual investment in cash or convertible securities, without regard to any obligation or subscription of the underwriter to pay additional cash or securities in the future.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Collected 2026-08-27T01:47:21Z. Source file · JSON

Browse this collection