Sec. 463.052. REQUIRED PARTICIPATION IN ASSOCIATION. (a) As a condition of engaging in the business of insurance in this state, an insurer, including a mutual assessment company, a local mutual aid association, a statewide mutual assessment company, and a stipulated premium company authorized to engage in business in this state, shall participate as a member of the association if the insurer holds a certificate of authority to engage in a kind of insurance business in this state with respect to which this chapter provides coverage as determined under Subchapter E. The requirement to participate applies regardless of whether the insurer's certificate of authority in this state is suspended, revoked, not renewed, or voluntarily withdrawn.
(b) The following do not participate as member insurers:
(1) a health maintenance organization;
(2) a fraternal benefit society;
(3) a mandatory state pooling plan;
(4) a reciprocal or interinsurance exchange;
(5) an organization which has a certificate of authority or license limited to the issuance of charitable gift annuities, as defined by this code or rules adopted by the commissioner; and
(6) an entity similar to an entity described by Subdivision (1), (2), (3), (4), or (5).
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.013(c), eff. September 1, 2007.
Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.013(c), eff. September 1, 2007.
Section: Previous 463.002 463.003 463.0031 463.004 463.005 463.006 463.051 463.052 463.053 463.054 463.055 463.056 463.057 463.058 463.059 NextLast modified: September 28, 2016