Sec. 493.002. APPLICABILITY OF CHAPTER. (a) Except as provided by Subsection (b), this chapter applies to all insurers, including:
(1) a stock or mutual property and casualty insurance company;
(2) a Mexican casualty insurance company;
(3) a Lloyd's plan;
(4) a reciprocal or interinsurance exchange;
(5) a nonprofit legal service corporation;
(6) a county mutual insurance company;
(7) a farm mutual insurance company;
(8) a risk retention group; and
(9) any insurer writing a line of insurance regulated by Title 10.
(b) This chapter does not apply to a ceding insurer domiciled in another state that regulates credit for reinsurance under statutes, rules, or regulations substantially similar in substance and effect to this chapter if the ceding insurer on request provides the commissioner with:
(1) evidence of the similarity in the form of those statutes, rules, or regulations; and
(2) an interpretation of the standards used by the state of domicile.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
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