Texas Insurance Code
§ 942.152 — SUBSCRIBER LIMITED LIABILITY BASED ON CERTAIN MINIMUM CAPITAL AND SURPLUS
IN § 942.152Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part G. LLOYD'S PLAN AND RECIPROCAL AND INTERINSURANCE EXCHANGES · Ch. 942. RECIPROCAL AND INTERINSURANCE EXCHANGES · Art. D. OPERATION, POWERS, AND DUTIES OF EXCHANGE
Statute text
View on sourceIf the unencumbered surplus of an exchange is at least equal to the minimum capital stock and minimum surplus required of a stock insurance company engaged in the same kinds of business, the subscribers of the exchange may provide by agreement that the premium or premium deposit specified in the reciprocal or interinsurance contract constitutes the entire liability of the subscribers through the exchange.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.