Sec. 2551.301. MAXIMUM POLICY LIABILITY. (a) Except as provided by Subsection (b), a title insurance company may issue a title insurance policy on any real property located in this state involving a potential policy liability of not more than 50 percent of the sum of the company's surplus as regards policyholders and the company's statutory premium reserves as stated in the most recent annual statement of the company.
(b) A title insurance company may exceed the limit described by Subsection (a) if the excess liability is reinsured in due course in accordance with Section 2551.302, 2551.305, or 2551.3055.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 38 (S.B. 572), Sec. 1, eff. September 1, 2015.
Structure Texas Statutes
Subtitle B - Organization of Title Insurance Companies
Subchapter G. Liability and Reinsurance
Section 2551.301. Maximum Policy Liability
Section 2551.302. Requirements for Reinsuring Policies
Section 2551.304. Acceptance of Reinsurance
Section 2551.305. Reinsurance From Non-Admitted Title Insurer
Section 2551.3055. Reinsurance From Insurer Other Than Title Insurer