Untitled Texas Attorney General Opinion

Hon. William A. Harrison Opinion No. WW-360 Commissioner of Insurance International Life Building Re: Required minimum capi- Austin, Texas tal and surplus of a life insur- ance company issuing stock on .Dear Sir: a no-par value basis. You have requested an opinion of this office concerning the capital and surplus requirements of life insurance companies issuing no-par value stock pursuant to the provisions of Article 3.02a of the Texas Insurance Code.. Your questions are as follows: 1. What is the required minimum capital, as that term is used and understood in insurance and corporate laws,…