{"data":{"id":"us-tx/tex.-insurance-code-402.051","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 402.051","heading":"ACQUISITIONS AND DISPOSITIONS CONSIDERED MATERIAL.","body":"For purposes of this chapter, an acquisition, or the aggregate of a series of related acquisitions during a 30-day period, or a disposition, or the aggregate of a series of related dispositions during a 30-day period, is material if it:\n(1) is not recurring;\n(2) is not in the ordinary course of business; and\n(3) involves more than five percent of the reporting insurer's or health maintenance organization's total admitted assets as reported in the insurer's or health maintenance organization's most recent statutory statement filed with the department.\nAdded by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.","path":["INSURANCE CODE","TITLE 4. REGULATION OF SOLVENCY","SUBTITLE A. GENERAL PROVISIONS","CHAPTER 402. DISCLOSURE OF MATERIAL TRANSACTIONS","SUBCHAPTER B. ACQUISITION AND DISPOSITION OF ASSETS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.402.htm#402.051","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"7784efb6046052bd4d4107304be43996f7e3d004c2c629f5217695a271167c55","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-402.005","next":"us-tx/tex.-insurance-code-402.052"},"notice":"GroundRules: Original legal text. Not legal advice."}