Tex. Ins. Code § 841.403 · Subchapter I. LIMITED PURPOSE SUBSIDIARY LIFE INSURANCE COMPANIES
ORGANIZATIONAL DOCUMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A wholly owned domestic insurer authorized to transact the business of insurance under this chapter or an affiliated company organized or authorized to conduct business under the laws of this state may organize a limited purpose subsidiary life insurance company under this subchapter.
(b) A limited purpose subsidiary life insurance company may reinsure risks of the organizing company and of an affiliated company.
(c) A limited purpose subsidiary life insurance company's organizational documents must:
(1) limit the company's authority to transact the business of insurance to reinsuring only the risks of a ceding insurer;
(2) provide that the limited purpose subsidiary life insurance company may not otherwise engage in the business of insurance; and
(3) provide that the limited purpose subsidiary life insurance company must always be wholly owned by a domestic insurer authorized to transact the business of insurance under this chapter or by an affiliated company organized or authorized to do business under the laws of this state.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161), Sec. 1, eff. June 17, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.841.htm
- Text hash
- sha256 6f042353ba0d0a0c827e8ff5dc2f4272348cbc183f763c3ee2fbd7c258a20d38
- 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.