Texas Insurance Code

§ 964.104 — ATTORNEY IN FACT REQUIREMENTS

IN § 964.104Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part H. OTHER ENTITIES · Ch. 964. CAPTIVE INSURANCE COMPANIES · Art. C. CAPTIVE EXCHANGES

Statute text

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The attorney in fact of a captive exchange must:

(1)be:

(A)a corporation organized in this state; or

(B)a limited liability company organized in this state;

(2)on the date of the captive exchange's formation, have and maintain a power of attorney with all subscribers of the captive exchange;

(3)have its principal office in this state; and

…

Legislative history

Added by Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 2.01, eff. June 15, 2017.