Sec. 982.202. DEED OF TRUST: APPROVAL BY COMMISSIONER. (a) The commissioner shall approve a deed of trust relating to the trusteed assets of an alien insurance company if the commissioner determines: (1) the deed of trust or its amendments are sufficient in form and conform with applicable law; (2) the trustee or trustees are eligible to serve in that capacity; and (3) the deed of trust is adequate to protect the interests of the beneficiaries of the trust. (b) If, after notice and hearing, the commissioner determines that a requisite for approval of a deed of trust under Subsection (a) does not exist, the commissioner may withdraw approval. (c) The commissioner may approve a change in any deed of trust that in the commissioner's judgment is in the best interests of the policyholders of the alien insurance company in the United States.
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