{"data":{"id":"us-tx/tex.-insurance-code-884.307","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 884.307","heading":"ISSUANCE OF ANNUITY CONTRACT.","body":"(a) A stipulated premium company that possesses capital and unencumbered surplus in a combined amount of at least $100,000 more than all of its liabilities, including contingent liabilities, may issue annuity contracts as authorized by Chapters 3 and 1701 and Title 7.\n(b) The stipulated premium company shall maintain reserves on the contracts in accordance with the statutes governing reserves on equivalent contracts issued by a legal reserve company.\n(c) A stipulated premium company that writes annuity contracts under this section shall maintain capital and unencumbered surplus in at least the combined amount required by Subsection (a).\n(d) A stipulated premium company that does not comply with Subsection (c) is considered to be insolvent.\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.082, eff. April 1, 2009.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES","CHAPTER 884. STIPULATED PREMIUM INSURANCE COMPANIES","SUBCHAPTER G. POWERS AND DUTIES RELATING TO COVERAGES"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.884.htm#884.307","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"526aa2be89a09f77bd9bc406548a6d7b7fe47771b650b80c76a80518cac5953c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-884.306","next":"us-tx/tex.-insurance-code-884.308"},"notice":"GroundRules: Original legal text. Not legal advice."}