Texas Insurance Code

§ 981.102 — LIMIT ON USE OF SURPLUS LINES POLICY OR CONTRACT FORMS

IN § 981.102Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part I. SURPLUS LINES INSURERS; COMPANIES NOT ORGANIZED IN TEXAS · Ch. 981. SURPLUS LINES INSURANCE · Art. C. REQUIREMENTS AND PROCEDURES FOR ISSUANCE OF SURPLUS LINES DOCUMENTS

Statute text

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A surplus lines insurance policy or contract form may not be used unless use of the form is:

(1)reasonably necessary for the principal purposes of the insurance coverage; or

(2)not contrary to the purposes of this chapter regarding the reasonable protection of authorized insurers from unwarranted competition by unauthorized insurers.

Legislative history

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