Texas Insurance Code Title 6, Chapter 964 - Captive Insurance Companies
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 964.001 - Definitions
(a) In this chapter: (1) "Affiliated company" or "affiliate" has the meaning assigned by Section 823.003 and includes a parent entity that controls a captive...
SUBCHAPTER B CAPTIVE INSURANCE COMPANIES
- Texas Section 964.002 - Applicability Of Other Laws
(a) Except as otherwise provided by this chapter, this code does not apply to a captive insurance company except: (1) Title 2; (2) Chapter 223A...
- Texas Section 964.051 - Authority To Write Direct Business
(a) Except as provided by this section, a captive insurance company may write any type of insurance, but may only insure the operational risks of...
- Texas Section 964.052 - Reinsurance
(a) A captive insurance company may provide reinsurance to an insurer covering the operational risks of the captive insurance company's affiliates or risks of a...
- Texas Section 964.053 - Formation
(a) A captive insurance company must be formed for the purpose of engaging in the business of insurance under this chapter. (b) A captive insurance...
- Texas Section 964.054 - Reserves And Accounting Basis
(a) A captive insurance company shall maintain reserves in an amount stated in the aggregate to provide for the payment of all losses or claims...
- Texas Section 964.055 - Certificate Of Authority Required
(a) An entity may not engage in business as a captive insurance company domiciled in this state unless it holds a certificate of authority issued...
- Texas Section 964.056 - Capital And Surplus Requirements
(a) The department may not issue a certificate of authority to a captive insurance company unless the company possesses and maintains unencumbered capital and surplus...
- Texas Section 964.057 - Application For Certificate Of Authority
(a) To obtain a certificate of authority for a captive insurance company, the incorporators or organizers must pay to the commissioner an application fee and...
- Texas Section 964.058 - Examination By Commissioner
(a) After the application and application fee for a certificate of authority under Section 964.057 are filed with the department and the applicant has complied...
- Texas Section 964.059 - Action On Application
(a) The commissioner shall determine whether: (1) the capital structure of the applicant meets the requirements of this chapter; (2) the officers or directors of...
- Texas Section 964.060 - Annual Report
(a) A captive insurance company holding a certificate of authority under this chapter is not required to file a report, except as provided by this...
- Texas Section 964.061 - Investments
(a) A captive insurance company is not subject to a restriction on allowable investments, except as provided by this section. (b) A captive insurance company...
- Texas Section 964.062 - Amendments To Certificate Of Formation
A captive insurance company may not amend its certificate of formation unless the amendment has been filed with and approved by the commissioner. Added by...
- Texas Section 964.063 - Dividends
(a) A captive insurance company shall notify the commissioner in writing when issuing policyholder dividends. (b) A captive insurance company, with the commissioner's approval, may...
- Texas Section 964.064 - Prohibition On Joining Or Contributing To Certain Entities And Funds
A captive insurance company may not join or contribute financially to any plan, pool, association, or guaranty or insolvency fund in this state, and a...
- Texas Section 964.065 - Suspension Or Revocation Of Certificate Of Authority
The commissioner, after notice and an opportunity for hearing, may revoke or suspend the certificate of authority of a captive insurance company for: (1) insolvency...
- Texas Section 964.066 - Standards For Risk Management Of Controlled Unaffiliated Business
The commissioner may adopt rules establishing standards to ensure that an affiliated company is able to exercise control of the risk management function of any...
- Texas Section 964.067 - Captive Managers
Before providing captive management services to a licensed captive insurance company, a captive management company shall register with the commissioner by providing the information required...
- Texas Section 964.068 - Maintenance Tax
A captive insurance company is subject to maintenance tax under Subtitle C, Title 3, on the correctly reported gross premiums from writing insurance on risks...
- Texas Section 964.069 - Rulemaking Authority
The commissioner may adopt reasonable rules as necessary to implement the purposes and provisions of this chapter. Added by Acts 2013, 83rd Leg., R.S., Ch....
- Texas Section 964.070 - Confidentiality
(a) Any information filed by an applicant or captive insurance company under this chapter is confidential and privileged for all purposes, including for purposes of...
- Texas Section 964.071 - Redomestication
(a) An authorized foreign or alien captive insurance company licensed under laws of any jurisdiction may become a domestic captive insurance company in this state...
- Texas Section 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...
Last modified: September 28, 2016