Texas Insurance Code

§ 884.301 — REINSURANCE OF POLICY

IN § 884.301Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 884. STIPULATED PREMIUM INSURANCE COMPANIES · Art. G. POWERS AND DUTIES RELATING TO COVERAGES

Statute text

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(a)A stipulated premium company may reinsure on an individual indemnity policy basis any risk or part of a risk that the company underwrites or assumes.

(b)The reinsurer must be a legal reserve company that:

(1)is authorized to write life, health, and accident insurance in this state; and

(2)has capital and surplus in an amount of at least $200,000.

(c)After reinsuring under Subsection (a), a stipulated premium company may take a credit for the reinsurance against the aggregate reserves required by Subchapter J.

Legislative history

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