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Texas Insurance Code - INS § 2502.054. Certain Divisions of Premiums Not Prohibited

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

(a) For purposes of this section, a subsidiary is a company at least 50 percent of the voting stock of which is owned by the title insurance company or by a wholly owned subsidiary of the title insurance company.

(b) This subchapter does not:

(1) prohibit a title insurance company from:

(A) appointing as its title insurance agent for a county a person who owns or leases and operates an abstract plant for that county;  and

(B) arranging for a division of premiums with the agent as set by the commissioner;  or

(2) affect the division of a premium between a title insurance company and its subsidiary title insurance agent when the company directly issues a title insurance policy or contract under Section 2704.002.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2502.054. Certain Divisions of Premiums Not Prohibited - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2502-054/

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