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Texas Insurance Code - INS § 942.157. Transactions Between Certain Insurers and Affiliated Exchanges

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

(a) In this section, “affiliate” has the meaning assigned by Section 823.003.

(b) An insurer subject to Article 5.26 may not directly or indirectly assume all or a substantial part of any risk covered by a reciprocal or interinsurance contract written by an exchange that is an affiliate of that insurer if the risk is written at a rate less than the rate that may be lawfully charged by the insurer or any affiliate of the insurer that is subject to Article 5.26.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 942.157. Transactions Between Certain Insurers and Affiliated Exchanges - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-942-157/

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