Sec. 281.003. EXCEPTION. This subchapter does not apply to a person, company, firm, association, group, corporation, or insurance organization of any kind from another state that engages in business in this state if:
(1) at least 15 percent of the voting stock of the person, company, firm, association, group, corporation, or insurance organization is owned by a corporation organized under the laws of and domiciled in this state; and
(2) the person, company, firm, association, group, corporation, or insurance organization met the requirements of Subdivision (1) before January 30, 1957.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.
Structure Texas Statutes
Title 3 - Department Funds, Fees, and Taxes
Chapter 281 - Retaliatory Provisions
Subchapter A. Retaliatory Taxes and Other Charges
Section 281.002. Treatment of Alien Insurer as Foreign Insurer
Section 281.004. Retaliatory Taxes or Other Charges, Prohibitions, and Restrictions
Section 281.005. Exclusion of Certain Taxes or Charges
Section 281.006. Treatment of Certain Tax Reductions and Credits
Section 281.007. Tax Report; Administration and Collection of Tax