Form FIN435 Checklist for Placing an Initial Statutory Deposit - Texas

Form FIN435 Checklist for Placing an Initial Statutory Deposit - Texas

What Is Form FIN435?

This is a legal form that was released by the Texas Department of Insurance - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is FIN435?
A: FIN435 is a checklist for placing an initial statutory deposit in Texas.

Q: What is an initial statutory deposit?
A: An initial statutory deposit is the required amount of money that must be deposited with the state when forming a new insurance company.

Q: Why is an initial statutory deposit required?
A: An initial statutory deposit is required to ensure that an insurance company has sufficient funds to meet its obligations to policyholders.

Q: Who needs to complete the FIN435 checklist?
A: Insurance companies forming in Texas need to complete the FIN435 checklist.

Q: What information is included in the checklist?
A: The FIN435 checklist includes information about the insurance company's name, address, officers, directors, and the amount of the initial statutory deposit.

Q: Are there any fees associated with the initial statutory deposit?
A: Yes, there may be fees associated with the initial statutory deposit. These fees vary depending on the size of the deposit.

Q: Can the initial statutory deposit be made in cash?
A: No, the initial statutory deposit must be made in the form of a certified or cashier's check.

Q: How long does it take for the initial statutory deposit to be processed?
A: The processing time for the initial statutory deposit may vary, but it typically takes a few business days.

Q: What happens to the initial statutory deposit once it is processed?
A: The initial statutory deposit is held by the state and can be used towards the payment of policyholder claims if needed.

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Form Details:

  • Released on July 1, 2018;
  • The latest edition provided by the Texas Department of Insurance;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form FIN435 by clicking the link below or browse more documents and templates provided by the Texas Department of Insurance.

Download Form FIN435 Checklist for Placing an Initial Statutory Deposit - Texas

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