Texas Insurance Code

§ 883.103 — AUTHORIZATION OF FOREIGN MUTUAL INSURANCE COMPANY TO ENGAGE IN BUSINESS

IN § 883.103Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 883. MUTUAL INSURANCE COMPANIES OTHER THAN MUTUAL LIFE INSURANCE COMPANIES · Art. C. AUTHORITY TO ENGAGE IN BUSINESS IN THIS STATE

Statute text

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(a)The department shall authorize a foreign mutual insurance company to write the kinds of insurance authorized by the company's charter or articles of incorporation in this state if the company:

(1)is solvent as determined under this chapter;

(2)files with the department:

(A)a copy of the company's bylaws certified by the company's secretary; and

(B)a certified copy of the company's charter or articles of incorporation;

(3)appoints the commissioner as the company's agent for service of process as provided by Chapter 804;

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Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.