Texas Insurance Code

§ 911.055 — APPLICATION FOR PERMIT TO SOLICIT INSURANCE

IN § 911.055Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part F. FARM AND COUNTY MUTUAL INSURANCE COMPANIES · Ch. 911. FARM MUTUAL INSURANCE COMPANIES · Art. B. ORGANIZATION OF FARM MUTUAL INSURANCE COMPANY; DIRECTORS

Statute text

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(a)At least 10 residents described by Section 911.054(a) that want to form a farm mutual insurance company may apply to the department for a permit to solicit insurance on the mutual or cooperative plan.

(b)The application for a permit to solicit insurance must:

(1)state:

(A)that at least 100 individuals are members of an association described by Section 911.053(b)(1);

(B)that the association has indicated, by majority vote, that the association wants to:

(i)insure property of the association's members under this chapter; and

…

Legislative history

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