Texas Insurance Code

§ 911.302 — LOCATION OF BUSINESS

IN § 911.302Title 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)Except as provided by Subsection (b), a farm mutual insurance company may write insurance in:

(1)the county in which the company's home office is located at the time of incorporation and in any county adjoining the county in and for which the company is organized;

(2)any county in which another farm mutual insurance company is not organized; and

(3)any county in this state if the company's reserve fund exceeds $200,000 in cash or securities in which the reserve fund of a stock fire insurance company may be invested.

(b)This section does not apply to a farm mutual insurance company organized and operating in this state under a certificate of authority issued before May 21, 1973, under former Chapter 16 of this code.

Legislative history

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