Tex. Ins. Code § 2201.153 · Subchapter D. RISK RETENTION GROUPS NOT CHARTERED IN THIS STATE
REQUIREMENTS FOR CONTINUING BUSINESS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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 of the group's financial statement submitted to the state in which the group is chartered and authorized to engage in business;
(2) a copy of each examination of the group as certified by the commissioner, director, or superintendent of insurance of another state or other public official conducting the examination;
(3) on the commissioner's request, a copy of any audit performed with respect to the group; and
(4) any other information required to verify that the group continues to qualify as a risk retention group under Subchapter B.
(b) A financial statement submitted under Subsection (a)(1) must:
(1) be certified by an independent public accountant; and
(2) contain a statement of opinion on loss and loss adjustment expense reserves made:
(A) under criteria established by the National Association of Insurance Commissioners; and
(B) by a member of the American Academy of Actuaries or a qualified loss reserve specialist.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2201.htm
- Text hash
- sha256 d1de8f9e4d6f91402d998e8073899101ee724275e6142129202f6541b0254043
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
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