SUBCHAPTER E. REQUIRED DEPOSIT

Sec. 2551.201.  DEPOSIT REQUIRED;  AMOUNT.  (a)  Except as provided by Section 2551.202, a title insurance company shall deposit and maintain in the state treasury, or other depository in this state named by the company and approved by the department, either:
(1)  cash;  or
(2)  securities described by Section 2551.151.
(b)  A title insurance company's deposit under this section must be in an amount equal to the lesser of:
(1)  one-fourth of the authorized capital of the company;  or
(2)  $100,000.
(c)  A deposit under this section is for the benefit of all policyholders.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.