Tex. Ins. Code Section 982.201
Deed of Trust: General Provisions

(a)

A deed of trust relating to the trusteed assets of an authorized alien insurance company and all amendments to the deed of trust are effective only if approved by the commissioner.

(b)

The deed of trust must contain provisions that:

(1)

vest legal title to trusteed assets in the trustee or trustees and the trustees’ lawfully appointed successors, in trust for the security of the policyholders of the alien insurance company in the United States;

(2)

provide for substitution of a new trustee or trustees, subject to the commissioner’s approval, in the event of vacancy by death, resignation, or other incapacity; and

(3)

require that the trustee or trustees continuously maintain a record sufficient to identify the trusteed assets.

(c)

The deed of trust may provide that income, earnings, dividends, or interest accumulations of the trusteed assets may be paid over to the United States manager of the alien insurance company on request.

(d)

The deed of trust and all amendments to the deed of trust must be authenticated in the form and manner prescribed by the commissioner.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 982.201 — Deed of Trust: General Provisions, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­982.­htm#982.­201 (accessed May 25, 2024).

982.001
Definitions 982.002
Applicability of Chapter 982.003
Life Insurance Companies Wanting to Loan Money 982.004
Financial Statements of Foreign or Alien Insurance Companies 982.051
Certificate of Authority Required for Life, Health, or Accident Companies 982.052
Certificate of Authority Required for Other Companies 982.101
Filing of Financial Statement by Life, Health, or Accident Insurance Company 982.102
Filing of Financial Statement by Other Insurance Company 982.103
Filing of Financial Statement by Alien Insurance Company 982.104
Filing of Articles of Incorporation 982.105
Capital Stock and Surplus Requirements for Life, Health, or Accident Insurance Companies 982.106
Capital Stock and Surplus Requirements for Other Insurance Companies 982.107
Applicability of Other Law 982.108
Deposit Requirements for Alien Insurance Company 982.109
Duration of Deposit by Life, Health, or Accident Insurance Companies 982.110
Duration of Deposit for Other Insurance Companies 982.111
Exception to Deposit Requirement: Trusteed Assets 982.112
Exception to Deposit Requirement: Deposit with Officer in Another State 982.113
Issuance of Certificate of Authority to Life, Health, or Accident Insurance Company 982.114
Payment of Tax by Foreign or Alien Life Insurance Company 982.201
Deed of Trust: General Provisions 982.202
Deed of Trust: Approval by Commissioner 982.203
Location of Trusteed Assets 982.204
Withdrawal of Trusteed Assets 982.251
Trusteed Surplus of Alien Insurance Company 982.252
Form and Contents of Financial Statement of Alien Insurance Company 982.253
Impairment of Trusteed Surplus 982.254
Failure to Eliminate Impairment of Trusteed Surplus 982.255
Examination of Alien Insurance Company 982.301
Applicability of Subchapter 982.302
Reinsurance Not Prohibited 982.303
Texas Law Accepted 982.304
Same or Deceptively Similar Name 982.305
Limitation on Actions in Other State Courts
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Accessed:
May 25, 2024

§ 982.201’s source at texas​.gov