Sec. 981.074. AUTHORIZED BUSINESS. (a) A domestic surplus lines insurer may only insure a risk in this state if:
(1) the insurance is procured as eligible surplus lines insurance under this chapter; and
(2) the insurance is a kind of insurance the insurer is authorized to write under the insurer's articles of incorporation.
(b) A domestic surplus lines insurer may not issue:
(1) a policy in the admitted market; or
(2) a policy to satisfy the financial responsibility requirements of Chapter 601, Transportation Code, insurance requirements of Chapter 406, Labor Code, or requirements of any other law of this state mandating insurance coverage by an insurance company authorized to engage in the business of insurance in this state.
Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.
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. -1. Domestic Surplus Lines Insurer
Section 981.072. Designation as Domestic Surplus Lines Insurer
Section 981.073. Applicability of Other Law; Conflicts
Section 981.074. Authorized Business
Section 981.075. Taxes Imposed
Section 981.076. Requirements for Domestic Surplus Lines Documents