Texas Insurance Code - Section 493.107. Request For Information From Assuming Insurer
Legal Research Home >
Texas Lawyer > Insurance Code > Texas Insurance Code - Section 493.107. Request For Information From Assuming Insurer
§ 493.107. REQUEST FOR INFORMATION FROM ASSUMING
INSURER. (a) The commissioner may request that an assuming insurer
not meeting the requirements of Section 493.102 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: 493.055 493.101 493.102 493.103 493.104 493.105 493.106 493.107 493.151 493.152 493.153 493.154 493.155 493.156 493.157
Last modified: August 11, 2007
|
