Tex. Ins. Code § 493.001 · Subchapter A. GENERAL PROVISIONS
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In this chapter:
(1) "Assuming insurer" means an insurer that, under a reinsurance contract, incurs an obligation to a ceding insurer, the performance of which is contingent on the ceding insurer incurring liability or loss under the ceding insurer's insurance contract with a third person.
(2) "Qualified United States financial institution" means an institution that:
(A) is organized or, in the case of a United States branch or agency office of a foreign banking organization, licensed, under the laws of the United States or any state of the United States; and
(B) is regulated, supervised, and examined by a federal or state authority that has regulatory authority over banks and trust companies.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, 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.493.htm
- Text hash
- sha256 482b090a3fcbb8c127f46f86a4df1ef33fef514b385fa3e0feb7c9a09f4b57ea
- 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.