{"data":{"id":"us-tx/tex.-insurance-code-861.258","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 861.258","heading":"REAL PROPERTY.","body":"(a) A general casualty company is subject to Section 862.002 and may not purchase, hold, or convey real property except as authorized by that section.\n(b) A general casualty company shall sell real property acquired in compliance with Subsection (a) not later than the 10th anniversary of the date the real property was acquired.\n(c) A general casualty company may retain real property after the date specified by Subsection (b) if the commissioner issues a certificate stating:\n(1) that sale of the real property in compliance with Subsection (b) would cause the company to incur a material loss; and\n(2) a later date by which the real property must be sold.\n(d) Subsection (b) does not apply to:\n(1) real property occupied by buildings used in whole or in part by a general casualty company in the transaction of business;\n(2) an interest in minerals or royalty reserved on the sale of real property acquired under Sections 862.002(c)(1)-(3); and\n(3) investment real property acquired under Section 424.064.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.066, eff. April 1, 2009.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE D. CASUALTY COMPANIES","CHAPTER 861. GENERAL CASUALTY COMPANIES","SUBCHAPTER F. REGULATION OF GENERAL CASUALTY COMPANY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.861.htm#861.258","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"5944f3391c51e8d30193047abbe4c205b3f7843a2f35c90a9c148fbc72e1cd9a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-861.257","next":"us-tx/tex.-insurance-code-861.701"},"notice":"GroundRules: Original legal text. Not legal advice."}