Sec. 4053.104. SEPARATE RECORDS. (a) For each insurer with which a managing general agent has a contract, the agent shall maintain separate records of the business handled by the agent for the insurer.
(b) The managing general agent shall make a record required under Subsection (a) available for inspection by:
(1) each insurer; and
(2) the department's examiners.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Structure Texas Statutes
Title 13 - Regulation of Professionals
Chapter 4053 - Managing General Agents
Subchapter C. Powers and Duties of Managing General Agents
Section 4053.101. General Powers and Duties
Section 4053.103. Account Report
Section 4053.104. Separate Records
Section 4053.105. Escrow Account
Section 4053.106. Fiduciary Capacity
Section 4053.107. Financial Examination