Tex. Ins. Code § 4152.214 · Subchapter E. REQUIREMENTS RELATING TO MANAGERS
PLACEMENT OF REINSURANCE WITH UNAUTHORIZED REINSURER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Unless the ceding insurer releases the manager in writing from the manager's obligations under this section, a manager who places reinsurance on behalf of an authorized ceding insurer with a reinsurer that is not authorized, accredited, or trusteed in this state under Chapter 493 shall:
(1) exercise due diligence in inquiring into the financial condition of the reinsurer;
(2) disclose to the ceding insurer the manager's findings in connection with the inquiry under Subdivision (1); and
(3) make available to the ceding insurer a copy of the current financial statement of the reinsurer.
(b) A ceding insurer that releases a manager from the manager's obligations under Subsection (a) assumes those obligations.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2J.007, eff. April 1, 2009.
Acts 2017, 85th Leg., R.S., Ch. 594 (S.B. 1070), Sec. 3.15, eff. September 1, 2017.
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 0b39fb9e6fcade5d71c08ff5f5a6205746fa5f37ca096ef509918e0ed5ba25c9
- 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
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