Sec. 981.057. MINIMUM CAPITAL AND SURPLUS REQUIREMENTS. (a) Except as provided by Subsection (b), an eligible surplus lines insurer must maintain capital and surplus in an amount of at least $15 million.
(b) Subsection (a) does not apply to alien surplus lines insurers listed on the Quarterly Listing of Alien Insurers maintained by the International Insurers Department, National Association of Insurance Commissioners.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 595 (S.B. 951), Sec. 6, eff. June 14, 2013.
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