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Texas Insurance Code - INS § 424.109. Designation of Pool Manager; Qualifications

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

(a) The pooling agreement for an investment pool must designate a pool manager.

(b) The pool manager must be organized under the laws of the United States or a state and must be:

(1) the investing insurer, an affiliated insurer, or a business entity affiliated with the insurer;

(2) a qualified bank;

(3) a business entity registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), as amended;

(4) the attorney-in-fact of a reciprocal or interinsurance exchange; or

(5) the United States manager or an affiliate or subsidiary of the United States manager of a United States branch of an alien insurer.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 424.109. Designation of Pool Manager; Qualifications - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-424-109/

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