Texas Insurance Code - Section 463.162. Assignment Or Transfer Of Credit
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§ 463.162. ASSIGNMENT OR TRANSFER OF CREDIT. (a) A
member insurer may assign or transfer a credit against premium tax
to another member insurer if:
(1) an acquisition, merger, or total assumption of
reinsurance occurs between the insurers; or
(2) the commissioner by order approves the assignment
or transfer.
(b) Not later than the later of November 1 or the 60th day
after the date of the assignment or transfer, each member insurer
shall:
(1) report the assignment or transfer to the
comptroller on a form the comptroller prescribes; and
(2) include with the report any documents from the
commissioner that show approval of the assignment or transfer.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 463.155 463.156 463.157 463.158 463.159 463.160 463.161 463.162 463.163 463.201 463.202 463.203 463.204 463.205 463.251
Last modified: August 10, 2007
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