Texas Insurance Code Title 6, Chapter 822 - General Incorporation And Regulatory Requirements For Insurance Companies Other Than Life, Health, Or Accident Insurance Companies

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 822.001 - Applicability Of Chapter
  Except as otherwise provided by this code, this chapter applies to the formation of each company or organization that proposes to engage in any kind...
• Texas Section 822.002 - Applicability Of Law Governing Corporations
  An insurance company incorporated in this state is subject to the Texas Business Corporation Act, the Texas Miscellaneous Corporation Laws Act (Article 1302-1.01 et seq.,...

SUBCHAPTER B FORMATION AND STRUCTURE OF COMPANY

• Texas Section 822.003 - Effect On Transactions Between Insurance Companies And Others
  The following sections do not restrict or modify any provision of this code relating to a transaction between an insurance company and the insurance company's...
• Texas Section 822.051 - Formation Of Company
  (a) Any number of persons may form a company for the purpose of engaging in the business of insurance. (b) To form a company, each...
• Texas Section 822.052 - Articles Of Incorporation
  Articles of incorporation of a proposed insurance company must state: (1) the name of the company; (2) the location of the company's principal business office;...
• Texas Section 822.053 - Company's Name
  An insurance company's name may not be so similar to the name of another insurance company as to likely mislead the public. Added by Acts...
• Texas Section 822.054 - Capital Stock And Surplus Requirements
  (a) An insurance company must have capital stock in an amount of at least $2.5 million and surplus in an amount of at least $2.5...
• Texas Section 822.055 - Shares Of Stock With Par Value
  (a) An insurance company organized under the laws of this state may authorize the issuance of shares of stock with a par value of not...
• Texas Section 822.056 - Shares Of Stock Without Par Value
  (a) An insurance company organized under the laws of this state, on incorporation or by an amendment to its charter, may authorize the issuance of...
• Texas Section 822.057 - Application For Charter
  (a) To obtain a charter for an insurance company, the incorporators must pay to the department the fees prescribed by law and file with the...
• Texas Section 822.058 - Action By Commissioner After Filing Of Application For Charter
  (a) Repealed by Acts 2009, 81st Leg., R.S., Ch. 1022, Sec. 19(2), eff. June 19, 2009. (b) After the items required for a charter under...
• Texas Section 822.060 - Action On Application
  (a) In considering the application, the commissioner shall determine if: (1) the proposed capital structure of the company meets the requirements of this code; (2)...

SUBCHAPTER C AUTHORITY TO ENGAGE IN BUSINESS IN THIS STATE

• Texas Section 822.061 - Issuance Of Charter
  (a) On receipt of a charter fee in the amount determined under Chapter 202, the commissioner shall examine the articles of incorporation filed with the...

SUBCHAPTER D MANAGEMENT OF COMPANY

• Texas Section 822.101 - Certificate Of Authority
  When the articles of incorporation of an insurance company have been filed with the department under Section 822.060 or the company has been authorized to...
• Texas Section 822.151 - Conducting Shareholders Meeting
  (a) Except as otherwise provided by this code, at a meeting of an insurance company's shareholders to elect the company's board of directors or to...
• Texas Section 822.152 - Board Of Directors
  (a) An insurance company organized under the laws of this state is managed by its board of directors. (b) The board consists of not fewer...
• Texas Section 822.153 - Election Of Directors
  (a) Not later than the 30th day after the date on which the company's subscription books are filed, the shareholders of an insurance company shall...
• Texas Section 822.154 - Officers
  (a) An insurance company's directors shall choose one of the directors to serve as the company's president. (b) Other officers of the insurance company shall...
• Texas Section 822.155 - Application For Amendment Of Charter
  A domestic insurance company may amend its charter by paying to the commissioner a fee in the amount determined under Chapter 202 and by filing...
• Texas Section 822.156 - Certificate Required For Amendment Of Charter To Authorize Shares Without Par Value
  (a) If a proposed amendment to the charter of an insurance company authorizes the issuance of shares of stock without par value, the insurance company...
• Texas Section 822.157 - Action By Commissioner After Filing Of Application For Charter Amendment
  (a) The commissioner may hold a hearing on an application for a charter amendment. If the commissioner determines to hold a hearing on the application,...

SUBCHAPTER E CAPITAL, SURPLUS, AND GUARANTY FUND REQUIREMENTS

• Texas Section 822.158 - Determination On Application For Charter Amendment
  (a) Not later than the 60th day after the date the application under Section 822.155 is filed, the commissioner shall determine whether: (1) the proposed...
• Texas Section 822.201 - Applicability Of Capital And Surplus Requirements
  The capital and surplus requirements of this chapter apply to each insurance company or other entity, other than a farm mutual insurance company, authorized to...
• Texas Section 822.202 - Full Coverage Automobile Insurance; Determination Of Amounts
  Full coverage automobile insurance is one line of casualty insurance for purposes of determining: (1) the amount of capital and surplus of a capital stock...
• Texas Section 822.203 - Capital Required Generally
  To engage in the kinds of insurance business for which an insurance company organized under this chapter holds a certificate of authority, the company must...
• Texas Section 822.204 - Form Of Capital And Surplus
  (a) After incorporation and the issuance of a certificate of authority to an insurance company, the minimum capital stock and surplus of the company may...
• Texas Section 822.205 - Unencumbered Surplus Or Guaranty Fund Requirements For Certain Insurance Companies
  (a) Except as provided by Section 912.308, this section applies only to an insurance company that: (1) writes insurance only in this state; and (2)...
• Texas Section 822.206 - Repurchase Of Capital Stock By Tender Offer Or Private Transaction
  (a) An insurance company may, on prior approval of the department, purchase outstanding shares of the company's capital stock in accordance with the Texas Business...
• Texas Section 822.207 - Repurchase Of Capital Stock On Open Market
  (a) On prior approval of the commissioner, an insurance company, the capital stock of which is listed on a national securities exchange, may purchase from...
• Texas Section 822.208 - Application For Repurchase Of Company's Shares Subject To Other Law
  An application filed by an insurance company under Section 822.206 or 822.207 is subject to the substantive requirements for the approval of payment of an...
• Texas Section 822.209 - Reinvestment Of Capital Stock
  An insurance company may, as circumstances require, exchange and reinvest its capital stock in like securities. Added by Acts 2001, 77th Leg., ch. 1419, Sec....
• Texas Section 822.210 - Commissioner May Require Larger Capital And Surplus Amounts
  (a) The commissioner by rule or guideline may require an insurance company organized under this chapter to maintain capital and surplus in amounts that exceed...
• Texas Section 822.211 - Action Of Commissioner When Capital Or Surplus Requirements Not Satisfied
  If an insurance company does not comply with the capital and surplus requirements of this chapter, the commissioner may enter an order prohibiting the company...
• Texas Section 822.212 - Increase Of Capital And Surplus
  (a) Notwithstanding Section 822.203, to engage in the kinds of insurance business for which an insurance company organized under this chapter holds a certificate of...

Last modified: September 28, 2016