Texas Insurance Code

§ 981.211 — FINANCIAL CONDITION OF SURPLUS LINES INSURERS

IN § 981.211Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part I. SURPLUS LINES INSURERS; COMPANIES NOT ORGANIZED IN TEXAS · Ch. 981. SURPLUS LINES INSURANCE · Art. E. SURPLUS LINES AGENTS

Statute text

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(a)A surplus lines agent must make a reasonable effort to determine the financial condition of an eligible surplus lines insurer before placing insurance with that insurer.

(b)A surplus lines agent may not knowingly place surplus lines insurance with a financially unsound insurer.

Legislative history

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