Sec. 884.405. AGENT; LICENSE. (a) An agent may not solicit or write any coverage authorized by this subchapter unless the agent:
(1) holds a license issued under Chapter 4054; and
(2) is appointed by the stipulated premium company for which the agent is soliciting and writing coverage under this subchapter.
(b) The commissioner may issue under Chapter 4054 a license for an agent to solicit and write any coverage authorized by this subchapter for a stipulated premium company. Chapter 4054 applies to the stipulated premium company as if the company were a legal reserve life insurance company.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.087, eff. April 1, 2009.
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 I. Authority to Issue Other Coverage
Section 884.401. Authority Cumulative
Section 884.402. Additional Coverage
Section 884.403. Policy Requirements
Section 884.404. Capital and Surplus Requirements
Section 884.405. Agent; License
Section 884.406. Annual Statement
Section 884.407. Relationship of Subchapter to Other Provisions of Chapter