Sec. 964.106. SUBSCRIBER DECLARATION. A captive exchange shall file with the department a subscriber declaration that includes:
(1) the information described by Section 942.053;
(2) the amount of the captive exchange's initial surplus; and
(3) a provision to authorize a quorum of the governing body of the captive exchange's attorney in fact to consist of not fewer than one-third of the fixed number of members of the governing body.
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