Ask a question on the site
Questions
Lawyers
Blogs
Legislation
Contacts
Become a lawyer
Login Registration
Chapter 941 - Lloyd's Plan
Subchapter A. General Provisions
Section 941.001. Definitions - Sec. 941.001. DEFINITIONS. In this chapter: (1) "Affiliate" has the...
Section 941.002. Lloyd's Plan Insurance Authorized; Life Insurance Prohibited - Sec. 941.002. LLOYD'S PLAN INSURANCE AUTHORIZED; LIFE INSURANCE PROHIBITED. (a)...
Section 941.003. Limited Exemption From Insurance Laws; Application of Certain Laws - Sec. 941.003. LIMITED EXEMPTION FROM INSURANCE LAWS; APPLICATION OF CERTAIN...
Section 941.004. Withdrawal From the Business of Insurance - Sec. 941.004. WITHDRAWAL FROM THE BUSINESS OF INSURANCE. (a) A...
Subchapter B. Formation and Structure of Lloyd's Plan
Section 941.051. Formation of Lloyd's Plan - Sec. 941.051. FORMATION OF LLOYD'S PLAN. (a) To write insurance...
Section 941.052. Attorney in Fact - Sec. 941.052. ATTORNEY IN FACT. (a) The attorney in fact...
Section 941.053. Deputy or Substitute Attorney in Fact - Sec. 941.053. DEPUTY OR SUBSTITUTE ATTORNEY IN FACT. An appointed...
Section 941.054. Name of Lloyd's Plan - Sec. 941.054. NAME OF LLOYD'S PLAN. The name under which...
Subchapter C. Authority to Engage in Business
Section 941.101. Certificate of Authority Required - Sec. 941.101. CERTIFICATE OF AUTHORITY REQUIRED. (a) An attorney in...
Section 941.102. Application for Certificate of Authority - Sec. 941.102. APPLICATION FOR CERTIFICATE OF AUTHORITY. (a) The attorney...
Section 941.103. Issuance of Certificate of Authority - Sec. 941.103. ISSUANCE OF CERTIFICATE OF AUTHORITY. On determination by...
Subchapter D. Operation, Powers, and Duties of Lloyd's Plan
Section 941.151. Liability of Underwriter - Sec. 941.151. LIABILITY OF UNDERWRITER. (a) Subject to Subsection (c),...
Section 941.152. Liability of Additional or Substituted Underwriter - Sec. 941.152. LIABILITY OF ADDITIONAL OR SUBSTITUTED UNDERWRITER. An additional...
Section 941.153. Accrual of Profits - Sec. 941.153. ACCRUAL OF PROFITS. The profits of a Lloyd's...
Section 941.154. Assumption of Risk by Certain Affiliated Insurers - Sec. 941.154. ASSUMPTION OF RISK BY CERTAIN AFFILIATED INSURERS. An...
Section 941.155. Promotion of Lloyd's Plan - Sec. 941.155. PROMOTION OF LLOYD'S PLAN. (a) An individual, firm,...
Section 941.156. Reinsurance Permitted - Sec. 941.156. REINSURANCE PERMITTED. This chapter does not prevent a...
Subchapter E. Financial Requirements
Section 941.201. Required Net Assets - Sec. 941.201. REQUIRED NET ASSETS. The department may not issue...
Section 941.202. Limitation of Business - Sec. 941.202. LIMITATION OF BUSINESS. (a) Except as provided by...
Section 941.203. Computation of Reserve - Sec. 941.203. COMPUTATION OF RESERVE. A Lloyd's plan shall compute...
Section 941.204. Authorized Investments - Sec. 941.204. AUTHORIZED INVESTMENTS. (a) The minimum guaranty fund and...
Section 941.205. Joint Control of Minimum Assets - Sec. 941.205. JOINT CONTROL OF MINIMUM ASSETS. (a) To the...
Section 941.206. Hazardous Financial Condition, Supervision, Conservatorship, and Liquidation; Impairment of Surplus - Sec. 941.206. HAZARDOUS FINANCIAL CONDITION, SUPERVISION, CONSERVATORSHIP, AND LIQUIDATION; IMPAIRMENT...
Subchapter F. Regulation of Lloyd's Plan
Section 941.251. Examinations - Sec. 941.251. EXAMINATIONS. (a) The provisions of Sections 86.001, 86.002,...
Section 941.252. Annual Report - Sec. 941.252. ANNUAL REPORT. (a) An attorney in fact shall...
Subchapter G. Foreign Lloyd's Plan
Section 941.301. Foreign Lloyd's Plan; Bond or Minimum Net Assets Required - Sec. 941.301. FOREIGN LLOYD'S PLAN; BOND OR MINIMUM NET ASSETS...
Section 941.302. Bond of Foreign Lloyd's Plan - Sec. 941.302. BOND OF FOREIGN LLOYD'S PLAN. (a) A bond...
Subchapter H. Conversion to Capital Stock Insurance Company
Section 941.351. Conversion Authorized - Sec. 941.351. CONVERSION AUTHORIZED. The underwriters may convert a Lloyd's...
Section 941.352. Adoption of Conversion Plan - Sec. 941.352. ADOPTION OF CONVERSION PLAN. The underwriters by a...
Section 941.353. Requirements of Conversion Plan - Sec. 941.353. REQUIREMENTS OF CONVERSION PLAN. The conversion plan must...
Section 941.354. Commissioner Approval of Conversion Plan - Sec. 941.354. COMMISSIONER APPROVAL OF CONVERSION PLAN. On the commissioner's...
Section 941.355. Conversion of Member of Holding Company System - Sec. 941.355. CONVERSION OF MEMBER OF HOLDING COMPANY SYSTEM. If...
Subchapter O. Penalties
Section 941.701. Revocation of Certificate of Authority - Sec. 941.701. REVOCATION OF CERTIFICATE OF AUTHORITY. The commissioner shall...
Section 941.702. Criminal Penalty - Sec. 941.702. CRIMINAL PENALTY. (a) A person commits an offense...
Chapter 942 - Reciprocal and Interinsurance Exchanges
Section 942.001. Definitions - Sec. 942.001. DEFINITIONS. In this chapter: (1) "Attorney in fact"...
Section 942.002. Subscriber Insurance Coverage Through Exchange Authorized; Life Insurance Prohibited - Sec. 942.002. SUBSCRIBER INSURANCE COVERAGE THROUGH EXCHANGE AUTHORIZED; LIFE INSURANCE...
Section 942.003. Limited Exemption From Insurance Laws; Applicability of Certain Laws - Sec. 942.003. LIMITED EXEMPTION FROM INSURANCE LAWS; APPLICABILITY OF CERTAIN...
Subchapter B. Formation and Structure of Exchange
Section 942.051. Appointment of Attorney in Fact; Approval by Department of Power of Attorney or Other Authorization Required - Sec. 942.051. APPOINTMENT OF ATTORNEY IN FACT; APPROVAL BY DEPARTMENT...
Section 942.052. Security Requirements - Sec. 942.052. SECURITY REQUIREMENTS. (a) Except as provided by Subsection...
Section 942.053. Subscriber Declaration - Sec. 942.053. SUBSCRIBER DECLARATION. (a) On entering into a reciprocal...
Section 942.054. Name of Exchange - Sec. 942.054. NAME OF EXCHANGE. (a) The name of an...
Section 942.055. Office Locations - Sec. 942.055. OFFICE LOCATIONS. The attorney in fact shall maintain...
Section 942.101. Certificate of Authority Required; Effect on Foreign Corporations - Sec. 942.101. CERTIFICATE OF AUTHORITY REQUIRED; EFFECT ON FOREIGN CORPORATIONS....
Subchapter D. Operation, Powers, and Duties of Exchange
Section 942.151. Subscriber Liability for Certain Contingent Premiums - Sec. 942.151. SUBSCRIBER LIABILITY FOR CERTAIN CONTINGENT PREMIUMS. (a) Except...
Section 942.152. Subscriber Limited Liability Based on Certain Minimum Capital and Surplus - Sec. 942.152. SUBSCRIBER LIMITED LIABILITY BASED ON CERTAIN MINIMUM CAPITAL...
Section 942.153. Prior Authority Not Affected - Sec. 942.153. PRIOR AUTHORITY NOT AFFECTED. This chapter does not...
Section 942.154. Statements Relating to Indemnity Amounts - Sec. 942.154. STATEMENTS RELATING TO INDEMNITY AMOUNTS. (a) The attorney...
Section 942.155. Financial Requirements - Sec. 942.155. FINANCIAL REQUIREMENTS. (a) An exchange shall maintain at...
Section 942.156. Issuance of Fidelity and Surety Bond Insurance; Deposit Required - Sec. 942.156. ISSUANCE OF FIDELITY AND SURETY BOND INSURANCE; DEPOSIT...
Section 942.157. Transactions Between Certain Insurers and Affiliated Exchanges - Sec. 942.157. TRANSACTIONS BETWEEN CERTAIN INSURERS AND AFFILIATED EXCHANGES. (a)...
Section 942.158. Advances of Money by Attorney in Fact - Sec. 942.158. ADVANCES OF MONEY BY ATTORNEY IN FACT. (a)...
Section 942.159. Violation by Attorney in Fact of Requirements Regarding Indemnity Contracts; Criminal Penalty - Sec. 942.159. VIOLATION BY ATTORNEY IN FACT OF REQUIREMENTS REGARDING...
Subchapter E. Regulation of Exchanges
Section 942.201. Annual Report - Sec. 942.201. ANNUAL REPORT. (a) Not later than March 1...
Section 942.202. Examination by Department - Sec. 942.202. EXAMINATION BY DEPARTMENT. The business affairs and assets...
Section 942.203. Fees; Taxes; Filing Fee - Sec. 942.203. FEES; TAXES; FILING FEE. (a) To the extent...