Texas Insurance Code Title 10, Chapter 2201 - Risk Retention Groups And Purchasing Groups

• Texas Section 2201.001 - Purpose Of Chapter
  The purpose of this chapter is to: (1) regulate the formation and operation of risk retention groups and purchasing groups in this state formed under:...
• Texas Section 2201.002 - General Definitions
  In this chapter: (1) "Agent" includes the terms "agent" and "broker" as used in the Liability Risk Retention Act of 1986 (15 U.S.C. Section 3901...
• Texas Section 2201.003 - Liability Defined
  (a) In this chapter, except as provided by Subsection (b) or as otherwise provided by this chapter: (1) "Completed operations liability" means liability, including liability...
• Texas Section 2201.004 - Agent License Required
  (a) A person, firm, partnership, or corporation may not act or offer to act as an agent for, or aid in any manner in the...
• Texas Section 2201.005 - Exemption From Certain Requirements
  (a) A provision of Chapter 981, 4055, or 4056 does not apply to an agent described by Subsection (b) if the provision: (1) requires residency...
• Texas Section 2201.006 - Authority Of Commissioner
  (a) To enforce the laws of this state, the commissioner may use any authority provided by this code that is not specifically preempted by the...
• Texas Section 2201.007 - Annual Report To Commissioner
  An agent licensed as required by Section 2201.004 shall report to the commissioner not later than March 1 of each year the activities and scope...

SUBCHAPTER B RISK RETENTION GROUP QUALIFICATIONS

• Texas Section 2201.008 - Rules
  The commissioner may adopt rules relating to risk retention groups and purchasing groups that are necessary to carry out this chapter. Added by Acts 2005,...
• Texas Section 2201.051 - General Qualifications Of Risk Retention Group
  A risk retention group must be a corporation or other limited liability association that: (1) is organized primarily to assume and spread, and engages primarily...
• Texas Section 2201.052 - Name Of Group
  A risk retention group must include in its name the phrase "risk retention group." Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec....
• Texas Section 2201.053 - Status As Liability Insurer Required
  A corporation or other limited liability association must be chartered and authorized to engage in the business of insurance as a liability insurer under the...
• Texas Section 2201.054 - Qualifications Regarding Authority Of Certain Entities To Engage In Business
  (a) In this section, "completed operations liability" and "product liability" have the meanings assigned by the Product Liability Risk Retention Act of 1981 (15 U.S.C....
• Texas Section 2201.055 - Qualifications Regarding Membership
  (a) A risk retention group must be composed of members who are engaged in similar or related businesses or activities with respect to the liability...

SUBCHAPTER C RISK RETENTION GROUPS

• Texas Section 2201.056 - Authorized Activities
  (a) A risk retention group may provide: (1) liability insurance for assuming and spreading all or any portion of the liability of the group's members;...
• Texas Section 2201.101 - Eligibility Requirements
  Except as otherwise provided by this chapter, a risk retention group that applies to be chartered in this state must: (1) be chartered and authorized...
• Texas Section 2201.102 - Charter Application
  (a) A risk retention group that applies to be chartered in this state shall provide to the commissioner with the application for charter the following...
• Texas Section 2201.103 - Plan Of Operation; Revisions
  (a) Except as provided by Subsection (b), before a risk retention group chartered in this state may offer insurance in any state, the group must...

SUBCHAPTER D RISK RETENTION GROUPS

• Texas Section 2201.104 - Filing Fee
  (a) In addition to all other fees imposed on an insurer chartered and authorized to engage in business under Chapter 822, 861, 883, or 942,...
• Texas Section 2201.151 - Compliance Required
  A risk retention group chartered and authorized to engage in business in another state, Bermuda, or the Cayman Islands shall comply with this subchapter to...
• Texas Section 2201.152 - Prerequisites To Offering Insurance
  (a) Before offering insurance in this state, a risk retention group not chartered in this state must submit to the commissioner: (1) a statement that:...
• Texas Section 2201.153 - Requirements For Continuing Business
  (a) A risk retention group not chartered in this state that engages in business in this state shall submit to the commissioner: (1) a copy...
• Texas Section 2201.154 - Filing Fees
  (a) The commissioner by rule shall impose a filing fee in an amount not to exceed $500 for filing the items described by Sections 2201.152(a)(1)...
• Texas Section 2201.155 - Payment Of Taxes
  (a) A risk retention group not chartered in this state is liable for the payment of premium and maintenance taxes and taxes on premiums of...
• Texas Section 2201.156 - Examination Of Financial Condition; Dissolution Or Delinquency Proceedings
  (a) A risk retention group not chartered in this state must submit to an examination by the commissioner to determine the group's financial condition if...

SUBCHAPTER E PROVISIONS REGULATING GENERAL OPERATION

• Texas Section 2201.158 - Injunctive Relief
  (a) A risk retention group not chartered in this state must comply with the terms of an injunction issued by a court of this state...
• Texas Section 2201.201 - Scope Of Authority
  A risk retention group may engage in the business of insurance in this state only: (1) as a risk retention group; and (2) to conduct...
• Texas Section 2201.203 - Agent To Verify Authority
  Before placing business with a risk retention group, each agent shall secure from the appropriate insurance regulatory authority a certified copy of the certificate of...
• Texas Section 2201.204 - Applicability Of Certain Requirements For Liability Insurers
  A risk retention group authorized to engage in business in this state under Subchapter C or D must participate on the same basis as a...
• Texas Section 2201.205 - Risk Retention Group Participation In Insolvency Guaranty Fund Prohibited
  A risk retention group may not be required or permitted to join or contribute financially to any insurance insolvency guaranty fund or similar mechanism in...
• Texas Section 2201.206 - Required Notice
  (a) Any policy issued by a risk retention group must contain in 10-point type on the front page and on the declarations page the following...
• Texas Section 2201.207 - Prohibited Activities
  A risk retention group may not: (1) solicit or sell insurance to any person who is not eligible for membership in the group; (2) solicit...
• Texas Section 2201.208 - Injunctive Relief
  An order issued by a United States district court enjoining a risk retention group from soliciting or selling insurance or operating in any state, in...

SUBCHAPTER F PURCHASING GROUPS

• Texas Section 2201.209 - Penalties
  (a) A risk retention group that is authorized to engage in business in this state under Subchapter C or D and that violates this chapter...
• Texas Section 2201.251 - General Qualifications Of Purchasing Group
  (a) A purchasing group must: (1) have as one of the group's purposes the purchase of liability insurance on a group basis; (2) be composed...
• Texas Section 2201.252 - Determination Of Location
  (a) For purposes of this subchapter, a purchasing group is considered to be located in the state in which the highest aggregate premiums are in...
• Texas Section 2201.253 - Limitations On Authority
  (a) A purchasing group located in this state may not purchase liability insurance from a risk retention group that is not chartered in a state...
• Texas Section 2201.254 - Application Of State Law
  (a) A purchasing group meeting the criteria established under the Liability Risk Retention Act of 1986 (15 U.S.C. Section 3901 et seq.) is exempt from...
• Texas Section 2201.255 - Notice To Commissioner; Filing Fee
  (a) Before engaging in business in this state, a purchasing group must provide notice to the commissioner. The notice must: (1) identify the state in...
• Texas Section 2201.256 - Registration Requirement; Fees
  (a) A purchasing group shall register with and designate the commissioner or other appropriate authority as the group's agent solely for the purpose of receiving...
• Texas Section 2201.257 - Payment Of Premium Taxes
  (a) Premiums paid for coverage of risks located in this state by a purchasing group or any group member are subject to taxation at the...
• Texas Section 2201.258 - Purchasing Group Participation In Insolvency Guaranty Fund Prohibited; Exception
  (a) A claim against a purchasing group or a group member may not be paid from any insurance insolvency guaranty fund or similar mechanism in...
• Texas Section 2201.259 - Required Notice
  (a) A purchasing group that obtains liability insurance from an insurer or a risk retention group shall provide notice to each group member that has...

Last modified: September 28, 2016