Tex. Ins. Code § 942.154 · Subchapter D. OPERATION, POWERS, AND DUTIES OF EXCHANGE
STATEMENTS RELATING TO INDEMNITY AMOUNTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The attorney in fact for an exchange shall file with the department a sworn statement that shows the maximum amount of indemnity on any single risk.
(b) The attorney in fact for an exchange shall, as required by the department, file with the department a sworn statement that:
(1) the attorney has examined the commercial rating of each subscriber, as established by the reference book of a commercial agency with at least 100,000 subscribers; and
(2) based on the examination or other information in the attorney's possession, it appears that no subscriber has assumed on any single risk an amount greater than 10 percent of that subscriber's net worth.
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.942.htm
- Text hash
- sha256 88c92ffc805b2f8c9e00d2b7859686f9d4cc19210e4473825e0b6c06356a03fb
- 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.