{"data":{"id":"us-tx/tex.-insurance-code-406.004","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 406.004","heading":"REQUIRED DEPOSIT: FORM OF SECURITY.","body":"A deposit required under Section 406.003 must be made with the comptroller and approved by the commissioner. The deposit must be made in:\n(1) cash;\n(2) securities authorized under this code to be a legal investment for the insurer that:\n(A) are readily marketable over a national exchange with a maturity date of not more than one year, are listed by the Securities Valuation Office of the National Association of Insurance Commissioners, and qualify as admitted assets; or\n(B) are clean, irrevocable, and unconditional letters of credit issued or confirmed by a financial institution organized and licensed under the laws of the United States or a state of the United States; or\n(3) another form of security acceptable to the commissioner.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.","path":["INSURANCE CODE","TITLE 4. REGULATION OF SOLVENCY","SUBTITLE A. GENERAL PROVISIONS","CHAPTER 406. SPECIAL DEPOSITS REQUIRED UNDER POTENTIALLY HAZARDOUS CONDITIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.406.htm#406.004","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"4e1f18c6ce1df109b2f546fc26ccc2eed0c0753bb33e310efadb45ad5b6f01da","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-406.003","next":"us-tx/tex.-insurance-code-406.005"},"notice":"GroundRules: Original legal text. Not legal advice."}