Sayles' Annotated Civil Statutes of the State of Texas

Sayles' Annotated Civil Statutes of the State of Texas

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ...that if on December 31 preceding the issuance of such certificate of authority, the amount of its investments in "Texas Securities" was less than seventy-five per cent of the amount of its "Texas Reserves" it shall be required to have so invested annually as above provided, a sum equal to seventy-five per cent of the increase in its "Texas Reserves" since December 31 last preceding the issuance of its certificate of authority, added to the amount of its total investment in "Texas Securities" as of said date; and in addition it shall, not later than January 31 in each year after the issuance of its certificate of authority have so invested ten per cent of the amount by which seventyfive per cent of its "Texas Reserves" as of December 31 preceding the date of said certificate exceeded the amount of its total investments in "Texas Securities" as of that date, and shall have invested annually thereafter, not later than January 31 an additional ten per cent of such excess, until the total amount of its investments in "Texas Securities" shall at least equal seventy-five per cent of the amount of its "Texas Reserves." The proportionate amount of the "Texas Reserves" required by this Section to be invested in "Texas Securities" as of any date, shall thereafter be maintained; provided, that such investment shall not be required to be made by any life insurance company after it has ceased to do the business of life insurance or to write policies of life insurance in this State. 4. Annual report. That each life insurance company doing business in this State, shall, not later than ten days after January 31 of each year, file...show more

Product details

  • Paperback | 258 pages
  • 189 x 246 x 14mm | 467g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236946219
  • 9781236946218