Sec. 492.152. COMPOSITION OF TRUST. (a) If the assuming insurer is a single insurer, the trust must:
(1) consist of a trusteed account representing the assuming insurer's liabilities attributable to business written in the United States; and
(2) include a trusteed surplus of at least $20 million.
(b) If the assuming insurer is a group of insurers that includes an unincorporated individual insurer:
(1) the trust must:
(A) consist of a trusteed account representing the group's liabilities attributable to business written in the United States; and
(B) include a trusteed surplus of at least $100 million; and
(2) the group shall make available to the department an annual certification by the group's domiciliary regulator and its independent public accountants of each underwriter's solvency.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
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