Tex. Ins. Code § 423.101

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

Section 423.101 - Definition

In this subchapter, "clearing corporation" means:

(1) a clearing corporation as defined by Section 8.102(a), Business & Commerce Code; or

(2) a clearance system that:

(A) is organized or operating under the laws of at least one foreign country;

(B) provides for book-entry settlement and custody of internationally traded securities; and

(C) has been organized and in operation for not less than 15 consecutive years.

Tex. Ins. Code § 423.101

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.