Texas Insurance Code - Section 493.103. Accredited Reinsurer
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§ 493.103. ACCREDITED REINSURER. For purposes of Section
493.102(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: 493.051 493.052 493.053 493.054 493.055 493.101 493.102 493.103 493.104 493.105 493.106 493.107 493.151 493.152 493.153
Last modified: August 10, 2007
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