Sec. 1152.103. CONSIDERATION OF COMPANY'S CONDITION OR METHOD OF OPERATION. (a) For purposes of this section, the domicile of an alien company is its state of entry.
(b) In considering a company's condition or method of operation, the factors the commissioner shall consider must include:
(1) the company's history and financial condition;
(2) the character, responsibility, and fitness of the company's officers and directors;
(3) the law, including rules, under which the company is authorized to do business in the state of domicile to issue a variable contract; and
(4) whether the condition or method of operation in connection with the issuance of a variable contract will make the company's operation hazardous to the public or the company's policyholders in this state.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
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