Sec. 4152.058. BOND OR ERRORS AND OMISSIONS POLICY. (a) The commissioner may require a reinsurance intermediary to:
(1) file a bond with the commissioner for the protection of all insurers represented; or
(2) maintain an errors and omissions policy.
(b) The issuer of the bond or the errors and omissions policy must be acceptable to the commissioner. The bond or the policy must be in an amount determined by the commissioner to be customary and adequate under the circumstances.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Structure Texas Statutes
Title 13 - Regulation of Professionals
Subtitle D - Other Professionals
Chapter 4152 - Reinsurance Intermediaries
Subchapter B. License Requirements
Section 4152.051. License Required
Section 4152.052. Qualifications
Section 4152.054. Service of Notice, Orders, and Process
Section 4152.056. License Issuance
Section 4152.057. Persons Authorized to Act Under License