Texas Insurance Code
§ 493.155 — REPORTS AND CERTIFICATION
IN § 493.155Title 4. REGULATION OF SOLVENCY · Part F. REINSURANCE · Ch. 493. AUTHORIZED REINSURANCE; CREDIT AND ACCOUNTING · Art. D. REQUIREMENTS FOR TRUST CREDIT ALLOWANCE
Statute text
View on source(a)Not later than February 28 of each year, the trustees of the trust shall:
(1)report to the department in writing, showing the balance of the trust and listing the trust's investments at the end of the preceding year; and
(2)certify the date of termination of the trust, if termination is planned, or certify that the trust will not expire before December 31 of the year of the report.
(b)To enable the commissioner to determine the sufficiency of the trust fund under Section 493.102(a)(3) and for purposes of Sections 493.1036(e) and (f), the assuming insurer shall report to the department not later than March 1 of each year information substantially the same as the information required to be reported by an authorized insurer on the National Association of Insurance Commissioners' Annual Statement form.
(c)Not later than February 28 of each year, if requested by a beneficiary of the trust fund, an assuming insurer that maintains a trust fund shall provide or make available to the assuming insurer's United States ceding insurers or those ceding insurers' assigns and successors in interest the following information:
(1)a copy of the trust instrument and any amendments to the trust instrument relating to the trust fund;
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Legislative history
Acts 2017, 85th Leg., R.S., Ch. 594 (S.B. 1070), Sec. 2.09, eff. September 1, 2017.