Sec. 981.051. AUTHORIZATION REQUIRED. (a) Before an insurer may issue surplus lines insurance, the insurer must hold an authorization to engage in the business of insurance from its domiciliary state or country.
(b) The authorization from the domiciliary state or country must be for the same kind or class of insurance to be written in this state as surplus lines insurance.
(c) The surplus lines insurer must provide to the commissioner satisfactory evidence that the insurer holds the authorization.
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 I - Surplus Lines Insurers; Companies Not Organized in Texas
Chapter 981 - Surplus Lines Insurance
Subchapter B. Eligibility Requirements for Surplus Lines Insurers
Section 981.051. Authorization Required
Section 981.054. Certain Preconditions Not Allowed
Section 981.057. Minimum Capital and Surplus Requirements
Section 981.058. Alien Insurers
Section 981.064. Commissioner May Order Revocation of Contracts