Texas Insurance Code

§ 911.301 — GENERAL OPERATING REQUIREMENTS

IN § 911.301Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part F. FARM AND COUNTY MUTUAL INSURANCE COMPANIES · Ch. 911. FARM MUTUAL INSURANCE COMPANIES · Art. G. REGULATION OF FARM MUTUAL INSURANCE COMPANY; FINANCIAL REQUIREMENTS

Statute text

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(a)In this section:

(1)"Census year" means a year in which the United States Census Bureau conducts a federal decennial census.

(2)"Rural property" means property located outside an area of land subject to the taxing authority of a municipality with a population of more than 6,500, adjusted in accordance with Subsection (e).

(b)A farm mutual insurance company shall:

(1)maintain a majority of the company's total insurance in force on rural property at all times the insurance is written; and

(2)operate on a regular and special assessment basis.

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Legislative history

Acts 2023, 88th Leg., R.S., Ch. 958 (S.B. 2008), Sec. 1, eff. September 1, 2023.