{"data":{"id":"us-tx/tex.-insurance-code-423.103","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 423.103","heading":"SECURITIES HELD UNDER CUSTODIAL OR TRUST AGREEMENT.","body":"A domestic insurer's securities that are held under a custodial agreement or trust agreement with a bank, Federal Home Loan Bank, or trust company may be issued in the name of a nominee of the bank, Federal Home Loan Bank, or trust company only if the bank, Federal Home Loan Bank, or trust company:\n(1) has corporate trust powers;\n(2) is authorized to act as a custodian or trustee;\n(3) is organized under the laws of the United States or any state of the United States; and\n(4) meets one of the following requirements:\n(A) is a member of the Federal Reserve System;\n(B) is a member of or is eligible to receive deposits that are insured by the Federal Deposit Insurance Corporation;\n(C) maintains an account with a Federal Reserve Bank and is subject to supervision and examination by the Board of Governors of the Federal Reserve System; or\n(D) is subject to supervision and examination by the Federal Housing Finance Board.\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 B. RESERVES AND INVESTMENTS","CHAPTER 423. TRANSACTIONS WITH MONEY AND OTHER ASSETS","SUBCHAPTER C. TRANSACTIONS WITH OTHER ASSETS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.423.htm#423.103","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"6ec90c018b090e3316c4afd530f11d3a5bb5b9fb2887ebd0641a88f476f6d519","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-423.102","next":"us-tx/tex.-insurance-code-423.104"},"notice":"GroundRules: Original legal text. Not legal advice."}