Texas Insurance Code

§ 912.151 — KINDS OF INSURANCE AUTHORIZED

IN § 912.151Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part F. FARM AND COUNTY MUTUAL INSURANCE COMPANIES · Ch. 912. COUNTY MUTUAL INSURANCE COMPANIES · Art. D. POLICIES AND COVERAGE

Statute text

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(a)A county mutual insurance company that qualifies to write casualty lines for statewide operation may write all lines of automobile insurance. The company may not assume a risk on any one hazard that is greater than five percent of its assets, unless the company promptly reinsures the excess amount of risk.

(b)A county mutual insurance company may insure property against loss or damage by:

(1)fire, lightning, gas explosion, theft, windstorm, and hail or for any combination of these hazards; or

(2)any other hazard against which any other fire or windstorm insurance company operating in this state may write insurance on property described by Subsection (c).

(c)Unless restricted by its charter, the company may write insurance against the hazards described by Subsection (b) on:

(1)a rural or urban dwelling and attendant outhouses and yard buildings;

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Legislative history

Acts 2005, 79th Leg., Ch. 1153 (H.B. 3048), Sec. 5, eff. September 1, 2005.