Tex. Ins. Code § 884.502 · Subchapter K. DIRECT REINSURANCE AGREEMENTS

DIRECT REINSURANCE AGREEMENT WITH LEGAL RESERVE COMPANY.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

(a) A stipulated premium company may enter into a total or partial direct reinsurance agreement with a legal reserve life insurance company authorized to engage in the business of insurance in this state.

(b) Before a reinsurance agreement under this section may take effect, it must be:

(1) approved by a majority vote of the board of directors of each company;

(2) submitted to the department; and

(3) approved by the department as complying with Section 884.503 or 884.504, as applicable.

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 1631902b719fbb8fa687c7482e0cfd0704e451aca45ca913bed738cc5d720caa
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

This section cites

Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.

Insurance Code

Cited by 3 provisions

Provisions in this library whose text cites Tex. Ins. Code § 884.502. Each shows the citation as that text prints it.

Insurance Code

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.

Tex. Ins. Code § 884.502 · Subchapter K. DIRECT REINSURANCE AGREEMENTS

DIRECT REINSURANCE AGREEMENT WITH LEGAL RESERVE COMPANY.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

(b) Before a reinsurance agreement under this section may take effect, it must be:

(1) approved by a majority vote of the board of directors of each company;

(2) submitted to the department; and

(3) approved by the department as complying with Section 884.503 or 884.504, as applicable.

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 1631902b719fbb8fa687c7482e0cfd0704e451aca45ca913bed738cc5d720caa
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

This section cites

Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.

Insurance Code

Cited by 3 provisions

Provisions in this library whose text cites Tex. Ins. Code § 884.502. Each shows the citation as that text prints it.

Insurance Code

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.