Texas Insurance Code

§ 964.072 — APPROVAL OF CAPTIVE REINSURANCE POOLS

IN § 964.072Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part H. OTHER ENTITIES · Ch. 964. CAPTIVE INSURANCE COMPANIES · Art. B. CAPTIVE INSURANCE COMPANIES

Statute text

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Before determining whether to approve a captive insurance company's participation in a captive reinsurance pool under Section 964.052, the commissioner may:

(1)require the captive insurance company provide to the commissioner evidence that the captive reinsurance pool:

(A)is composed only of other captive insurance companies holding a certificate of authority under this chapter or a similar law of another jurisdiction; and

(B)will be able to meet the pool's financial obligations; and

(2)impose any other limitation or requirement on the captive insurance company that is necessary and proper to provide adequate security for the captive insurance company.

Legislative history

Added by Acts 2015, 84th Leg., R.S., Ch. 469 (S.B. 667), Sec. 4, eff. June 15, 2015.