Tex. Ins. Code § 4053.109 · Subchapter C. POWERS AND DUTIES OF MANAGING GENERAL AGENTS
REINSURANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A managing general agent may not knowingly cede, arrange, facilitate, or bind an insurer to reinsurance.
(b) Notwithstanding Subsection (a), a managing general agent may bind a facultative reinsurance contract in accordance with an obligatory facultative agreement if the contract with the insurer contains reinsurance underwriting guidelines including, for both assumed and ceded reinsurance:
(1) a list of reinsurers with whom the automatic agreements are in effect;
(2) the coverages and amounts or percentages that may be reinsured; and
(3) commission schedules.
(c) A managing general agent may not commit an insurer to participate in insurance or reinsurance syndicates.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.4053.htm
- Text hash
- sha256 480ea5dcce77329927e4c5d2fabc81ec9d8ddb54598c7b982b7bc9419d230751
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.