Texas Insurance Code

§ 981.051 — AUTHORIZATION REQUIRED

IN § 981.051Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part I. SURPLUS LINES INSURERS; COMPANIES NOT ORGANIZED IN TEXAS · Ch. 981. SURPLUS LINES INSURANCE · Art. B. ELIGIBILITY REQUIREMENTS FOR SURPLUS LINES INSURERS

Statute text

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(a)Before an insurer may issue surplus lines insurance, the insurer must hold an authorization to engage in the business of insurance from its domiciliary state or country.

(b)The authorization from the domiciliary state or country must be for the same kind or class of insurance to be written in this state as surplus lines insurance.

(c)The surplus lines insurer must provide to the commissioner satisfactory evidence that the insurer holds the authorization.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.