Texas Insurance Code

§ 493.1037 — CERTIFICATION BY NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS

IN § 493.1037Title 4. REGULATION OF SOLVENCY · Part F. REINSURANCE · Ch. 493. AUTHORIZED REINSURANCE; CREDIT AND ACCOUNTING · Art. C. CREDIT FOR REINSURANCE

Statute text

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If an applicant for certification has been certified as a reinsurer in a National Association of Insurance Commissioners accredited jurisdiction:

(1)the commissioner may make a determination to defer to the accredited jurisdiction's certification and the financial strength rating assigned by that jurisdiction; and

(2)if the commissioner makes the determination authorized by Subdivision (1), the applicant shall be considered to be a certified reinsurer in this state.

Legislative history

Added by Acts 2017, 85th Leg., R.S., Ch. 594 (S.B. 1070), Sec. 2.05, eff. September 1, 2017.