Texas Insurance Code
§ 823.0147 — GROUP-WIDE SUPERVISION OF INTERNATIONALLY ACTIVE INSURANCE GROUPS
IN § 823.0147Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 823. INSURANCE HOLDING COMPANY SYSTEMS · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)The commissioner is authorized to act as the group-wide supervisor for any internationally active insurance group under the provisions of this section.
(b)The commissioner may otherwise acknowledge another regulatory official as the group-wide supervisor where the internationally active insurance group:
(1)does not have substantial insurance operations in the United States;
(2)has substantial insurance operations in the United States, but not in this state; or
(3)has substantial insurance operations in the United States and this state, but the commissioner has determined under the factors in Subsections (e) and (k) that the other regulatory official is the appropriate group-wide supervisor.
(c)An insurance holding company system that does not otherwise qualify as an internationally active insurance group may request that the commissioner make a determination or acknowledgment as to a group-wide supervisor under this section.
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Legislative history
Added by Acts 2017, 85th Leg., R.S., Ch. 38 (H.B. 3220), Sec. 3, eff. May 19, 2017.