Texas Insurance Code Title 6, Chapter 861 - General Casualty Companies

SUBCHAPTER A GENERAL PROVISIONS

SUBCHAPTER B FORMATION AND STRUCTURE OF GENERAL CASUALTY COMPANY

• Texas Section 861.001 - Definitions
  In this chapter: (1) "General casualty company" means an accident or casualty insurance company organized or engaging in the business of insurance under this chapter....
• Texas Section 861.051 - Formation Of Company Authorized
  Three or more persons, a majority of whom are residents of this state, may form a general casualty company in accordance with this chapter to...
• Texas Section 861.052 - Articles Of Incorporation; Filing And Recording Requirement
  (a) The articles of incorporation for a general casualty company must specify: (1) the general purpose of the company; and (2) the proposed duration of...
• Texas Section 861.053 - Preliminary Officers And Directors
  The incorporators shall choose from among themselves a president, a secretary, a treasurer, and at least three directors who continue in office until: (1) the...
• Texas Section 861.054 - Subscription Of Stock
  The incorporators shall: (1) open books for the subscription of stock in the general casualty company at the times and places the incorporators consider convenient...

SUBCHAPTER C AUTHORITY TO ENGAGE IN BUSINESS

• Texas Section 861.055 - Organizational Meeting
  (a) After receiving a certified copy of the articles of incorporation under Section 861.052, a general casualty company shall promptly call a meeting of the...
• Texas Section 861.101 - Certificate Of Authority Required
  A general casualty company may not engage in the business of insurance in this state without a certificate of authority issued under this chapter. Added...

SUBCHAPTER D POWERS AND DUTIES OF GENERAL CASUALTY COMPANY

• Texas Section 861.102 - Issuance Of Certificate Of Authority
  (a) The department shall issue a certificate of authority to a general casualty company authorizing the company to engage in the business of insurance under...
• Texas Section 861.151 - Authority Of Board Of Directors
  Subject to the bylaws of the company as adopted or amended by the shareholders or directors, the board of directors of a general casualty company...
• Texas Section 861.152 - General Powers Of Company
  A general casualty company may: (1) sue or be sued in the name of the company; (2) make or enforce contracts in relation to the...
• Texas Section 861.153 - Authorized Shares
  (a) A general casualty company may increase or decrease its capital stock after: (1) the intent to increase the stock is ratified by a two-thirds...
• Texas Section 861.154 - Dividends
  Except as authorized by Sections 403.001 and 403.051, the directors of a general casualty company may not issue dividends. Added by Acts 2001, 77th Leg.,...

SUBCHAPTER E INSURANCE COVERAGE PROVIDED BY GENERAL CASUALTY COMPANIES

• Texas Section 861.155 - Interference With Conduct Of Business Prohibited; Exceptions
  A person, including the department and the commissioner, may not restrain or interfere with the conduct of business of a general casualty company, except in:...

SUBCHAPTER F REGULATION OF GENERAL CASUALTY COMPANY

• Texas Section 861.201 - Kinds Of Insurance Authorized
  (a) A general casualty company may: (1) insure a person against: (A) bodily injury, disability, or death that results from an accident; or (B) disability...
• Texas Section 861.251 - Minimum Capital And Surplus
  (a) A general casualty company must have at least the minimum capital and surplus applicable to casualty, fidelity, guaranty, surety, and trust companies under Sections...
• Texas Section 861.252 - Security Deposit
  (a) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 447, Sec. 2, eff. June 14, 2013. (b) If, as a prerequisite to engaging in the...
• Texas Section 861.253 - Interest On Security Deposits
  (a) A general casualty company with securities on deposit under this chapter is entitled to collect the interest on the deposits as the interest becomes...
• Texas Section 861.254 - Annual Statement; Filing Fee
  (a) The president, vice president, and secretary of a general casualty company, or a majority of the directors or trustees of the company, shall, not...
• Texas Section 861.255 - Rules Regarding Certain Assets
  (a) The value of the electronic machines and systems, office equipment, furniture, other machines, and labor-saving devices specified in Section 861.254(c)(9), as determined under this...
• Texas Section 861.256 - Failure To Make Deposit Or Deliver Annual Statement
  (a) If a general casualty company fails to make a deposit under Section 861. 252 or to deliver an annual statement under Section 861.254 in...
• Texas Section 861.257 - Examination Of Company
  A general casualty company is subject to: (1) Subchapter A, Chapter 86; and (2) Sections 401.051, 401.052, 401.054-401.062, 401.151, 401.152, 401.155, and 401.156. Added by...

SUBCHAPTER O DISCIPLINARY PROCEDURES AND PENALTY

• Texas Section 861.258 - Real Property
  (a) A general casualty company is subject to Section 862.002 and may not purchase, hold, or convey real property except as authorized by that section....
• Texas Section 861.701 - Revocation Of Certificate
  (a) If, as a result of an examination under Section 861.257, the commissioner determines that a general casualty company has not complied with this chapter,...
• Texas Section 861.702 - Penalty
  A general casualty company that violates Section 861.101 is subject to a penalty of $100 for each day the company writes new business in this...
• Texas Section 861.703 - Collection Of Penalty
  (a) The attorney general or a district or county attorney under the direction of the attorney general may file an action in the name of...

Last modified: September 28, 2016