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

Tex. Insurance Code § 942.154: STATEMENTS RELATING TO INDEMNITY AMOUNTS.

Where this section sits in the code

INSURANCE CODE
TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
SUBTITLE G. LLOYD'S PLAN AND RECIPROCAL AND INTERINSURANCE EXCHANGES
CHAPTER 942. RECIPROCAL AND INTERINSURANCE EXCHANGES
SUBCHAPTER D. OPERATION, POWERS, AND DUTIES OF EXCHANGE

(a) The attorney in fact for an exchange shall file with the department a sworn statement that shows the maximum amount of indemnity on any single risk.

(b) The attorney in fact for an exchange shall, as required by the department, file with the department a sworn statement that:

(1) the attorney has examined the commercial rating of each subscriber, as established by the reference book of a commercial agency with at least 100,000 subscribers; and

(2) based on the examination or other information in the attorney's possession, it appears that no subscriber has assumed on any single risk an amount greater than 10 percent of that subscriber's net worth.

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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