Sec. 912.310. CERTAIN COMPANIES EXEMPT. (a) Chapter 196, Acts of the 53rd Legislature, Regular Session, 1953, and Chapter 117, Acts of the 54th Legislature, Regular Session, 1955, do not apply to a county mutual insurance company:
(1) that was organized and operating as a county mutual fire insurance company on May 22, 1953; and
(2) the business of which is devoted exclusively to the writing of industrial fire insurance policies covering dwellings, household goods and wearing apparel on a weekly, monthly, or quarterly basis on a continuous premium payment plan.
(b) The exemption established by this section applies only so long as the company is engaged exclusively in the writing of industrial fire insurance policies described by Subsection (a).
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 F - Farm and County Mutual Insurance Companies
Chapter 912 - County Mutual Insurance Companies
Subchapter G. Regulation of County Mutual Insurance Company; Financial Requirements
Section 912.301. Report Regarding Condition of Company
Section 912.302. Annual Statement Fee
Section 912.303. Books and Records
Section 912.305. Security Deposit
Section 912.306. Required Bonds
Section 912.307. Reserve Requirements
Section 912.308. Amount and Investment of Surplus