Texas Insurance Code

§ 942.054 — NAME OF EXCHANGE

IN § 942.054Title 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)The name of an exchange must contain the term "reciprocal," "inter-insurance exchange," "underwriters," "association," "exchange," "underwriting," "inter-insurers," or "inter-insurors."

(b)The name selected for an exchange may not be so similar to the name of a similar organization or an insurer that, in the opinion of the department, the name is calculated to confuse or deceive.

Legislative history

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