Tex. Ins. Code § 883.103 · Subchapter C. AUTHORITY TO ENGAGE IN BUSINESS IN THIS STATE
AUTHORIZATION OF FOREIGN MUTUAL INSURANCE COMPANY TO ENGAGE IN BUSINESS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The department shall authorize a foreign mutual insurance company to write the kinds of insurance authorized by the company's charter or articles of incorporation in this state if the company:
(1) is solvent as determined under this chapter;
(2) files with the department:
(A) a copy of the company's bylaws certified by the company's secretary; and
(B) a certified copy of the company's charter or articles of incorporation;
(3) appoints the commissioner as the company's agent for service of process as provided by Chapter 804;
(4) files a financial statement under oath in a form as required by the department; and
(5) complies with legal requirements applicable to the filing of documents and the furnishing of information by a stock insurance company that files an application with the department for authority to transact the same kind of insurance as the company.
(b) A foreign mutual insurance company's name may not be so similar to a name of a mutual insurance company or foreign mutual insurance company organized or authorized to engage in business in this state that it is confusing or misleading.
(c) A foreign mutual insurance company authorized to engage in the business of insurance under this section has, to the same extent, all of the powers granted to and privileges of a mutual insurance company organized and operating under this chapter.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.883.htm
- Text hash
- sha256 e060e5deebd6f690c9520fe4371bc1a1110a1a86fda1574866c9dfa629925a27
- 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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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.