Texas Insurance Code

§ 887.210 — REINSURANCE

IN § 887.210Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 887. PROVISIONS APPLICABLE TO CERTAIN MUTUAL ASSESSMENT COMPANIES · Art. E. POWERS AND DUTIES RELATING TO INSURANCE AND COVERAGES

Statute text

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(a)An association may enter into a reinsurance agreement with a legal reserve company that:

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

(2)has capital or surplus of at least $100,000.

(b)A reinsurance agreement under this section is subject to the commissioner's approval.

(c)An association may not pay more out from its mortuary fund for reinsurance under this section than is received at the time of reinsurance by the mortuary fund on the insurance certificates or members reinsured.

Legislative history

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