Texas Insurance Code

§ 841.104 — TAX PAYMENT REQUIRED FOR ISSUANCE OF CERTAIN CERTIFICATES OF AUTHORITY

IN § 841.104Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES · Ch. 841. LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES · Art. C. AUTHORITY TO ENGAGE IN BUSINESS

Statute text

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(a)This section applies to a life insurance company that:

(1)has previously held a certificate of authority to engage in the business of life insurance in this state;

(2)ceased to write new business in this state under that certificate of authority; and

(3)after ceasing to write new business, continued to collect from residents of this state renewal or other premiums on policies written under that certificate of authority.

(b)A life insurance company to which this section applies may not obtain a new certificate of authority to engage in the business of life insurance in this state until the company:

(1)files with the department under oath a report that discloses the gross amount of renewal or other premiums received each calendar year from residents of this state after the period covered by the company's last tax report of gross premium receipts filed under this code; and

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Legislative history

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 17, eff. April 1, 2005.