Tex. Ins. Code § 884.501 · Subchapter K. DIRECT REINSURANCE AGREEMENTS
DIRECT REINSURANCE AGREEMENTS BETWEEN STIPULATED PREMIUM COMPANIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Stipulated premium companies organized under this chapter may enter into a total or partial direct reinsurance agreement if the company assuming the policies under the agreement is authorized to transact the kinds of insurance provided by those policies.
(b) Before a stipulated premium company may enter into a total direct reinsurance agreement:
(1) the company must submit the agreement to the department; and
(2) the department must approve the agreement as fully protecting the interests of all the holders of policies being assumed.
(c) A partial direct reinsurance agreement shall be filed with the department before the effective date of the agreement.
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.884.htm
- Text hash
- sha256 056a6f362985fbed7af2d3a3ec8ad9cb49d03533293d868f54b0a7721e8b20ef
- 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
Cited by 1 provision
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