Texas Insurance Code

§ 964.059 — ACTION ON APPLICATION

IN § 964.059Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part H. OTHER ENTITIES · Ch. 964. CAPTIVE INSURANCE COMPANIES · Art. B. CAPTIVE INSURANCE COMPANIES

Statute text

View on source

(a)The commissioner shall determine whether:

(1)the capital and surplus, or the equivalent, of the applicant meet the requirements of this chapter;

(2)the officers or members of the applicant's governing body have sufficient insurance experience, ability, standing, and good record to make success of the captive insurance company probable;

(3)the applicant is acting in good faith; and

(4)the applicant otherwise satisfies the requirements of this chapter.

(b)In evaluating the application, the commissioner shall consider:

…

Legislative history

Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 1.09, eff. June 15, 2017.