Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Insurance Code § 884.502: DIRECT REINSURANCE AGREEMENT WITH LEGAL RESERVE COMPANY.

Where this section sits in the code

INSURANCE CODE
TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
SUBTITLE E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES
CHAPTER 884. STIPULATED PREMIUM INSURANCE COMPANIES
SUBCHAPTER K. DIRECT REINSURANCE AGREEMENTS

(a) A stipulated premium company may enter into a total or partial direct reinsurance agreement with a legal reserve life insurance company authorized to engage in the business of insurance in this state.

(b) Before a reinsurance agreement under this section may take effect, it must be:

(1) approved by a majority vote of the board of directors of each company;

(2) submitted to the department; and

(3) approved by the department as complying with Section 884.503 or 884.504, as applicable.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Collected 2026-08-27T01:47:21Z. Source file · JSON

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