{"data":{"id":"us-tx/tex.-insurance-code-942.155","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 942.155","heading":"FINANCIAL REQUIREMENTS.","body":"(a) An exchange shall maintain at all times an unencumbered surplus over and above all liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaged in the same kinds of business.\n(b) An exchange shall maintain at all times the reserves required by the laws of this state or by rules adopted by the commissioner to be maintained by stock insurance companies engaged in the same kinds of business.\n(c) An exchange shall maintain the required assets as to:\n(1) minimum surplus requirements, as provided by Section 822.204; and\n(2) other funds, as provided by the provisions of Subchapter B, Chapter 424, other than Sections 424.052, 424.072, and 424.073.\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.120, eff. April 1, 2009.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE G. LLOYD'S PLAN AND RECIPROCAL AND INTERINSURANCE EXCHANGES","CHAPTER 942. RECIPROCAL AND INTERINSURANCE EXCHANGES","SUBCHAPTER D. OPERATION, POWERS, AND DUTIES OF EXCHANGE"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.942.htm#942.155","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"95e24b4f513cf7035dfc495b30f3bce4fae7d02b34946b4f9d1155c2339a29f7","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-942.154","next":"us-tx/tex.-insurance-code-942.156"},"notice":"GroundRules: Original legal text. Not legal advice."}