Tex. Ins. Code § 4152.204 · Subchapter E. REQUIREMENTS RELATING TO MANAGERS
MANAGEMENT OF MONEY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A manager shall pay an insurer at least monthly all money due the insurer under a contract entered into under Section 4152.201.
(b) The manager must hold all money collected for the insurer's account in a fiduciary capacity in a bank that is a qualified United States financial institution. The manager may not retain more than three months of estimated claims payments and allocated loss adjustment expenses.
(c) If premiums or contributions are collected on behalf of or for more than one insurer, the manager shall:
(1) keep a separate account for each insurer;
(2) maintain a copy of the records for each account; and
(3) provide to each insurer on request a copy of the records relating to deposits and withdrawals on behalf of or for that insurer.
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.4152.htm
- Text hash
- sha256 69901980efa511b9a4d4dd3410780c4e3030bb79abba0dfdc6148b512c4f750c
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.