Sec. 4152.251. ENGAGEMENT OF SERVICES OF UNLICENSED BROKER OR MANAGER. (a) Except as provided by Subsection (b), an insurer may not engage the services of a person to act as a broker or manager on the insurer's behalf unless the person holds a license if required by Section 4152.051.
(b) An insurer, or an employee, attorney, or actuary of an insurer, may negotiate and obtain reinsurance for that insurer without holding a broker or manager license or without using the services of a broker or manager if that insurer, employee, attorney, or actuary does not otherwise hold the person out as a broker or manager or perform the duties or provide the services of a broker or manager.
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 F. Requirements Relating to Insurers
Section 4152.251. Engagement of Services of Unlicensed Broker or Manager
Section 4152.252. Audited Statement of Manager's Financial Condition
Section 4152.253. Review of Underwriting and Claims Processing Operations
Section 4152.254. Authority for Retrocessional Contracts or Participation in Reinsurance Syndicates
Section 4152.255. Notification of Termination of Manager's Contract
Section 4152.256. Appointment of Certain Persons to Board of Directors Prohibited