Sec. 4152.254. AUTHORITY FOR RETROCESSIONAL CONTRACTS OR PARTICIPATION IN REINSURANCE SYNDICATES. Binding authority for all retrocessional contracts or participation in reinsurance syndicates rests with an officer of the insurer. That officer may not be affiliated with a manager acting for the insurer.
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