Section 423.107 - Assets Deposited With Clearing Corporation A domestic insurer may deposit assets with a clearing corporation only if:
(1) the insurer is a member of an insurance holding company system that has assets of at least $5 billion, as shown by annual statements of member insurers for the preceding year;(2) the insurer uses the clearing corporation only as a depository for investments in internationally traded securities;(3) the insurer's total investment in internationally traded securities under Subdivision (2) does not exceed the insurer's policyholders' surplus; and(4) the insurer does not use securities deposited with the clearing corporation as security for reinsurance.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.