Texas Insurance Code

§ 402.003 — EXCEPTIONS TO REPORTING REQUIREMENTS

IN § 402.003Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 402. DISCLOSURE OF MATERIAL TRANSACTIONS · Art. A. GENERAL PROVISIONS

Statute text

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An insurer or health maintenance organization is not required to file a report under Section 402.002 if:

(1)the acquisition or disposition of assets or the nonrenewal, cancellation, or revision of a ceded reinsurance agreement is not material; or

(2)the insurer's or health maintenance organization's material acquisition or disposition of assets or material nonrenewal, cancellation, or revision of a ceded reinsurance agreement has been submitted to the commissioner for review, approval, or information under another provision of this code or another law, regulation, or requirement.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.