{"data":{"id":"us-tx/tex.-insurance-code-841.203","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 841.203","heading":"COMPANY'S REPURCHASE OF STOCK.","body":"(a) A legal reserve life insurance company may purchase in the name of the company outstanding shares of the company's capital stock as provided by the Texas Business Corporation Act.\n(b) A purchase of stock under this section is not considered an investment and does not violate the provisions of this code relating to eligible investments for a legal reserve life insurance company.\n(c) A legal reserve life insurance company that purchases stock under this section shall file with the department not later than the 10th day after the date of the purchase a statement that contains:\n(1) the name of each shareholder from whom the shares were purchased; and\n(2) the sum of money paid for those shares.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES","CHAPTER 841. LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES","SUBCHAPTER E. CAPITAL AND SURPLUS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.841.htm#841.203","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"ab1d4a3550994299c018a1a94e49ff8bd9d68cab781d4df474afb09b382af2bb","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-841.202","next":"us-tx/tex.-insurance-code-841.204"},"notice":"GroundRules: Original legal text. Not legal advice."}