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Texas Insurance Code - INS § 491.004. Risk Limitation for Alien Insurer

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

An insurer incorporated under the laws of a jurisdiction other than this state, another state, or the United States and authorized to engage in business in this state may not, unless the insurer reinsures the excess in another solvent insurer, expose itself to a loss or hazard on a single risk in an amount that exceeds the sum of:

(1) 10 percent of the insurer's deposit with the statutory officer in the state through which the insurer is authorized to engage in business in the United States; and

(2) 10 percent of the other surplus for policyholders of the insurer's United States branch.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 491.004. Risk Limitation for Alien Insurer - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-491-004/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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