Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by FindLaw Staff
(a) The commissioner may request that an assuming insurer not meeting the requirements of Section 493.102 file:
(1) financial statements certified and audited by an independent certified public accountant;
(2) a certified copy of the certificate or letter of authority from the domiciliary jurisdiction; and
(3) information on the principals and management of the assuming insurer.
(b) If an assuming insurer does not comply with a request under this section, the commissioner may issue a directive prohibiting all authorized insurers from taking credit for business ceded to the assuming insurer after the effective date of the directive.
(c) An unauthorized insurer that is included in the most recent quarterly listing published by the International Insurers Department of the National Association of Insurance Commissioners is considered to have complied with a request under this section.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 493.107. Request for Information from Assuming Insurer - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-493-107/
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 or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)