Texas Insurance Code
§ 101.001 — STATE POLICY AND PURPOSE
IN § 101.001Title 2. TEXAS DEPARTMENT OF INSURANCE · Part B. DISCIPLINE AND ENFORCEMENT · Ch. 101. UNAUTHORIZED INSURANCE · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)It is a state concern that many residents of this state hold insurance policies issued by persons or insurers who are not authorized to do insurance business in this state and who are not qualified as eligible surplus lines insurers under Chapter 981. These residents face often insurmountable obstacles in asserting legal rights under the policies in foreign forums under unfamiliar laws and rules of practice.
(b)It is the policy of this state to protect residents against acts by a person or insurer who is not authorized to do insurance business in this state by:
(1)maintaining fair and honest insurance markets;
(2)protecting the premium tax revenues of this state;
(3)protecting authorized persons and insurers, who are subject to strict regulation, from unfair competition by unauthorized persons and insurers; and
(4)protecting against evasion of the insurance regulatory laws of this state.
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Legislative history
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2B.014, eff. April 1, 2009.