§ 882.401 Amount of Contingency Reserve
§ 882.402 Excess Contingency Reserve
§ 882.403 Contingency Reserve Requirements
§ 882.404 Allocation of Contingency Reserve to Unencumbered Surplus
§ 882.405 Designation of Contingency Reserve as Unassigned Surplus
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Terms Used In Texas Insurance Code Chapter 882 > Subchapter I - Contingency Reserve

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Property: means real and personal property. See Texas Government Code 311.005
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Year: means 12 consecutive months. See Texas Government Code 311.005