Sec. 423.053. AUTHORITY TO DEPOSIT MONEY IN ACCOUNT OF REINSURER. A reinsurance agreement between a domestic insurer and an affiliate, as described by Section 823.003, must specifically authorize the deposit of money from premiums to the account of the affiliate that assumes the reinsurance.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle B - Reserves and Investments
Chapter 423 - Transactions With Money and Other Assets
Subchapter B. Transactions With Money
Section 423.051. Deposit and Investment of Money
Section 423.052. Money Held in Pooling Account
Section 423.053. Authority to Deposit Money in Account of Reinsurer