Sec. 964.072. APPROVAL OF CAPTIVE REINSURANCE POOLS. Before determining whether to approve a captive insurance company's participation in a captive reinsurance pool under Section 964.052, the commissioner may:
(1) require the captive insurance company provide to the commissioner evidence that the captive reinsurance pool:
(A) is composed only of other captive insurance companies holding a certificate of authority under this chapter or a similar law of another jurisdiction; and
(B) will be able to meet the pool's financial obligations; and
(2) impose any other limitation or requirement on the captive insurance company that is necessary and proper to provide adequate security for the captive insurance company.
Added by Acts 2015, 84th Leg., R.S., Ch. 469 (S.B. 667), Sec. 4, eff. June 15, 2015.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Chapter 964 - Captive Insurance Companies
Subchapter B. Captive Insurance Companies
Section 964.051. Authority to Write Direct Business
Section 964.054. Reserves and Accounting Basis
Section 964.055. Certificate of Authority Required
Section 964.056. Capital and Surplus or Equivalent Requirements
Section 964.057. Application for Certificate of Authority
Section 964.058. Examination by Commissioner
Section 964.059. Action on Application
Section 964.060. Annual Report
Section 964.062. Amendments to Certificate of Formation or Governing Document
Section 964.063. Dividends and Distributions
Section 964.064. Prohibition on Joining or Contributing to Certain Entities and Funds
Section 964.065. Suspension or Revocation of Certificate of Authority
Section 964.066. Standards for Risk Management of Controlled Unaffiliated Business
Section 964.067. Captive Managers
Section 964.068. Maintenance Tax
Section 964.069. Rulemaking Authority
Section 964.070. Confidentiality
Section 964.071. Redomestication