Sec. 964.072. APPROVAL OF CAPTIVE REINSURANCE POOLS. Before determining whether to approve a captive insurance company's participation in a captive reinsurance pool under Section 964.052, the commissioner may:
(1) require the captive insurance company provide to the commissioner evidence that the captive reinsurance pool:
(A) is composed only of other captive insurance companies holding a certificate of authority under this chapter or a similar law of another jurisdiction; and
(B) will be able to meet the pool's financial obligations; and
(2) impose any other limitation or requirement on the captive insurance company that is necessary and proper to provide adequate security for the captive insurance company.
Added by Acts 2015, 84th Leg., R.S., Ch. 469 (S.B. 667), Sec. 4, eff. June 15, 2015.
Section: Previous 964.057 964.058 964.059 964.060 964.061 964.062 964.063 964.064 964.065 964.066 964.067 964.068 964.069 964.070 964.071Last modified: September 28, 2016