{"data":{"id":"us-tx/tex.-insurance-code-941.153","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 941.153","heading":"ACCRUAL OF PROFITS.","body":"The profits of a Lloyd's plan may accrue to an underwriter only on the basis of the underwriter's actual investment in cash or convertible securities, without regard to any obligation or subscription of the underwriter to pay additional cash or securities in the future.\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 G. LLOYD'S PLAN AND RECIPROCAL AND INTERINSURANCE EXCHANGES","CHAPTER 941. LLOYD'S PLAN","SUBCHAPTER D. OPERATION, POWERS, AND DUTIES OF LLOYD'S PLAN"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.941.htm#941.153","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"5a402a021cc5a5702829218a64c009d97846271e26769697d34ae4de92693efc","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-941.152","next":"us-tx/tex.-insurance-code-941.154"},"notice":"GroundRules: Original legal text. Not legal advice."}