Sec. 941.156. REINSURANCE PERMITTED. This chapter does not prevent a domestic Lloyd's plan from reinsuring:
(1) the Lloyd's plan's excess lines with a solvent foreign Lloyd's plan acceptable to the department that does not hold a certificate of authority to engage in the business of insurance in this state; or
(2) any business from a foreign Lloyd's plan described by Subdivision (1).
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 G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges
Subchapter D. Operation, Powers, and Duties of Lloyd's Plan
Section 941.151. Liability of Underwriter
Section 941.152. Liability of Additional or Substituted Underwriter
Section 941.153. Accrual of Profits
Section 941.154. Assumption of Risk by Certain Affiliated Insurers