Texas Insurance Code

§ 981.074 — AUTHORIZED BUSINESS

IN § 981.074Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part I. SURPLUS LINES INSURERS; COMPANIES NOT ORGANIZED IN TEXAS · Ch. 981. SURPLUS LINES INSURANCE · Art. B-1. DOMESTIC SURPLUS LINES INSURER

Statute text

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(a)A domestic surplus lines insurer may only insure a risk in this state if:

(1)the insurance is procured as eligible surplus lines insurance under this chapter; and

(2)the insurance is a kind of insurance the insurer is authorized to write under the insurer's articles of incorporation.

(b)A domestic surplus lines insurer may not issue:

(1)a policy in the admitted market; or

(2)a policy to satisfy the financial responsibility requirements of Chapter 601, Transportation Code, insurance requirements of Chapter 406, Labor Code, or requirements of any other law of this state mandating insurance coverage by an insurance company authorized to engage in the business of insurance in this state.

Legislative history

Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.