Sec. 2201.253. LIMITATIONS ON AUTHORITY. (a) A purchasing group located in this state may not purchase liability insurance from a risk retention group that is not chartered in a state or from an insurer that does not hold a certificate of authority to engage in the business of insurance in this state unless the purchase is effected through a licensed agent acting under Chapter 981.
(b) A purchasing group may not offer insurance policy coverage declared unlawful by the Texas Supreme Court.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2201 - Risk Retention Groups and Purchasing Groups
Subchapter F. Purchasing Groups
Section 2201.251. General Qualifications of Purchasing Group
Section 2201.252. Determination of Location
Section 2201.253. Limitations on Authority
Section 2201.254. Application of State Law
Section 2201.255. Notice to Commissioner; Filing Fee
Section 2201.256. Registration Requirement; Fees
Section 2201.257. Payment of Premium Taxes
Section 2201.258. Purchasing Group Participation in Insolvency Guaranty Fund Prohibited; Exception