Tex. Ins. Code § 964.104 · Subchapter C. CAPTIVE EXCHANGES
ATTORNEY IN FACT REQUIREMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The attorney in fact of a captive exchange must:
(1) be:
(A) a corporation organized in this state; or
(B) a limited liability company organized in this state;
(2) on the date of the captive exchange's formation, have and maintain a power of attorney with all subscribers of the captive exchange;
(3) have its principal office in this state; and
(4) have at least three members in the governing body of the attorney in fact, and at least one of those members must be a resident of this state.
Notes and commentary — not statutory text
History
Added by Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 2.01, eff. June 15, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.964.htm
- Text hash
- sha256 5f3801c9312d606d170e6f041cec02685f9035e8586b84f9820b714d5008e6c2
- 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.