Sec. 984.001. AUTHORITY OF MEXICAN CASUALTY INSURANCE COMPANIES. (a) An insurance company that complies with this chapter may issue an insurance policy described by Subsection (b) as a Mexican casualty insurance company if the company is:
(1) organized under the laws of the United Mexican States or any state of that nation; and
(2) authorized to write insurance policies described by Subsection (b) by those laws, the company's charter or articles of association, and a license that is in effect and that is issued by the appropriate insurance regulatory authority of the United Mexican States or any state of that nation.
(b) A Mexican casualty insurance company described by Subsection (a) may issue in this state an insurance policy only if the policy:
(1) provides automobile coverage or accident or other casualty insurance coverage on a person or personal property; and
(2) is in effect only while the person or property covered by the policy is within the boundaries of the United Mexican States.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes