Texas Insurance Code

§ 964.106 — SUBSCRIBER DECLARATION

IN § 964.106Title 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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A captive exchange shall file with the department a subscriber declaration that includes:

(1)the information described by Section 942.053;

(2)the amount of the captive exchange's initial surplus; and

(3)a provision to authorize a quorum of the governing body of the captive exchange's attorney in fact to consist of not fewer than one-third of the fixed number of members of the governing body.

Legislative history

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