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Texas Insurance Code - INS § 2201.102. Charter Application

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A risk retention group that applies to be chartered in this state shall provide to the commissioner with the application for charter the following in accordance with rules adopted by the commissioner:

(1) the group's name;

(2) the identity of the group's initial members;

(3) the identity of the individuals who organized the group or who will provide administrative services or otherwise influence or control the group's activities;

(4) the amount and nature of initial capitalization;

(5) the coverages to be afforded;  and

(6) the states in which the group intends to operate.

(b) Immediately on receipt of an application for charter, the commissioner shall provide summary information concerning the filing, including the information provided under Subsection (a), to the National Association of Insurance Commissioners.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2201.102. Charter Application - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2201-102/

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