Tex. Ins. Code § 424.216
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
If an income generation transaction is a sale of a cap or a floor, the insurer must, during the entire period the cap or floor is outstanding, hold, or have a currently exercisable right to acquire, assets generating the cash flow necessary to make any payment for which the insurer is liable under the cap or floor.
Tex. Ins. Code § 424.216