Section 841.203 - Company's Repurchase of Stock(a) A legal reserve life insurance company may purchase in the name of the company outstanding shares of the company's capital stock as provided by the Texas Business Corporation Act.(b) A purchase of stock under this section is not considered an investment and does not violate the provisions of this code relating to eligible investments for a legal reserve life insurance company.(c) A legal reserve life insurance company that purchases stock under this section shall file with the department not later than the 10th day after the date of the purchase a statement that contains:(1) the name of each shareholder from whom the shares were purchased; and(2) the sum of money paid for those shares.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.