Texas Insurance Code

§ 942.053 — SUBSCRIBER DECLARATION

IN § 942.053Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part G. LLOYD'S PLAN AND RECIPROCAL AND INTERINSURANCE EXCHANGES · Ch. 942. RECIPROCAL AND INTERINSURANCE EXCHANGES · Art. B. FORMATION AND STRUCTURE OF EXCHANGE

Statute text

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(a)On entering into a reciprocal or interinsurance contract, the subscribers, through the attorney in fact, shall file with the department a declaration verified by the oath of the attorney in fact.

(b)The declaration must include:

(1)the name of the proposed exchange;

(2)the kinds of insurance to be provided under the reciprocal or interinsurance contract;

(3)a copy of the form of the power of attorney or other authorization of the attorney in fact under which the insurance is to be provided;

(4)the location of each office from which the reciprocal or interinsurance contracts are to be issued; and

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Legislative history

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