Sec. 964.103. SUBSCRIBER REQUIREMENTS. On and after the date of the captive exchange's formation, each subscriber of the captive exchange must:
(1) have an existing affiliation with each other subscriber; or
(2) satisfy the definition of a controlled unaffiliated business regardless of any affiliation relationship created by the captive exchange.
Added by Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 2.01, eff. June 15, 2017.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Chapter 964 - Captive Insurance Companies
Subchapter C. Captive Exchanges
Section 964.101. Applicability of Other Law
Section 964.102. Status of Captive Exchanges
Section 964.103. Subscriber Requirements
Section 964.104. Attorney in Fact Requirements