Sec. 2502.054. CERTAIN DIVISIONS OF PREMIUMS NOT PROHIBITED. (a) For purposes of this section, a subsidiary is a company at least 50 percent of the voting stock of which is owned by the title insurance company or by a wholly owned subsidiary of the title insurance company.
(b) This subchapter does not:
(1) prohibit a title insurance company from:
(A) appointing as its title insurance agent for a county a person who owns or leases and operates an abstract plant for that county; and
(B) arranging for a division of premiums with the agent as set by the commissioner; or
(2) affect the division of a premium between a title insurance company and its subsidiary title insurance agent when the company directly issues a title insurance policy or contract under Section 2704.002.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Structure Texas Statutes
Subtitle A - General Provisions
Chapter 2502 - Prohibited Conduct
Subchapter B. Rebates and Discounts
Section 2502.051. Rebates and Discounts Prohibited
Section 2502.052. Certain Divisions of Real Property Charges Prohibited
Section 2502.053. Certain Compensatory Payments Not Prohibited
Section 2502.054. Certain Divisions of Premiums Not Prohibited
Section 2502.055. Promotional and Educational Activities Not Rebates