Tex. Ins. Code § 884.203

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 884.203 - Public Offering Of Capital Stock

A stipulated premium company may not make to the public an offering that is subject to The Securities Act (Title 12, Government Code) , of any of its capital stock before the company possesses:

(1) capital in an amount of at least $100,000; and

(2) unencumbered surplus in an amount of at least $100,000.

Tex. Ins. Code § 884.203

Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 2.35, eff. 1/1/2022.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.