Texas Insurance Code - Section 492.107. Request For Information From Assuming Insurer
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Texas Lawyer > Insurance Code > Texas Insurance Code - Section 492.107. Request For Information From Assuming Insurer
§ 492.107. REQUEST FOR INFORMATION FROM ASSUMING
INSURER. (a) The commissioner may request that an assuming insurer
not meeting the requirements of Section 492.102 file:
(1) financial statements certified and audited by an
independent certified public accountant;
(2) a certified copy of the certificate or letter of
authority from the domiciliary jurisdiction; and
(3) information on the principals and management of
the assuming insurer.
(b) If an assuming insurer does not comply with a request
under this section, the commissioner may issue a directive
prohibiting all authorized insurers from taking credit for business
ceded to the assuming insurer after the effective date of the
directive.
(c) An unauthorized insurer that is included in the most
recent quarterly listing published by the International Insurers
Department of the National Association of Insurance Commissioners
is considered to have complied with a request under this section.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 492.056 492.101 492.102 492.103 492.104 492.105 492.106 492.107 492.151 492.152 492.153 492.154 492.155 492.156 492.157
Last modified: August 11, 2007
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