Sec. 884.301. REINSURANCE OF POLICY. (a) A stipulated premium company may reinsure on an individual indemnity policy basis any risk or part of a risk that the company underwrites or assumes.
(b) The reinsurer must be a legal reserve company that:
(1) is authorized to write life, health, and accident insurance in this state; and
(2) has capital and surplus in an amount of at least $200,000.
(c) After reinsuring under Subsection (a), a stipulated premium company may take a credit for the reinsurance against the aggregate reserves required by Subchapter J.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle E - Mutual and Fraternal Companies and Related Entities
Chapter 884 - Stipulated Premium Insurance Companies
Subchapter G. Powers and Duties Relating to Coverages
Section 884.301. Reinsurance of Policy
Section 884.302. Limits on Life Insurance
Section 884.303. Issuance of Life Insurance Policies by Certain Companies
Section 884.304. Life Insurance of More Than $25,000
Section 884.305. Premiums on Life Insurance Policies
Section 884.306. Life Insurance Contract
Section 884.307. Issuance of Annuity Contract
Section 884.308. Limits on Amount of Accident and Health Insurance Policies