Tex. Ins. Code § 884.505 · Subchapter K. DIRECT REINSURANCE AGREEMENTS
EFFECT OF TOTAL DIRECT REINSURANCE AGREEMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A stipulated premium company that enters into a total direct reinsurance agreement under Section 884.501 or 884.502 under which it is the ceding company shall promptly surrender its certificate of authority to the department.
(b) The stipulated premium company's shareholders and board of directors shall effect the company's dissolution.
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 b2fe79970e83ad92d0126ef0d8d39b146d0841f638a8a70b627238c800035572
- 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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