Texas Insurance Code - Section 492.103. Accredited Reinsurer
Legal Research Home >
Texas Lawyer > Insurance Code > Texas Insurance Code - Section 492.103. Accredited Reinsurer
§ 492.103. ACCREDITED REINSURER. For purposes of Section
492.102(a)(2), an insurer is accredited as a reinsurer in this
state if the insurer:
(1) submits to this state's jurisdiction;
(2) submits to this state's authority to examine the
insurer's books and records;
(3) is domiciled and authorized to engage in the
business of insurance or reinsurance in at least one state or, if
the insurer is a United States branch of an alien assuming insurer,
is entered through and authorized to engage in the business of
insurance or reinsurance in at least one state;
(4) annually files with the department a copy of the
annual statement the insurer files with the insurance department of
the insurer's state of domicile; and
(5) maintains a surplus as regards policyholders in an
amount of at least $20 million.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 492.052 492.053 492.054 492.055 492.056 492.101 492.102 492.103 492.104 492.105 492.106 492.107 492.151 492.152 492.153
Last modified: August 10, 2007
|
