{"data":{"id":"us-tx/tex.-insurance-code-4053.109","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 4053.109","heading":"REINSURANCE.","body":"(a) A managing general agent may not knowingly cede, arrange, facilitate, or bind an insurer to reinsurance.\n(b) Notwithstanding Subsection (a), a managing general agent may bind a facultative reinsurance contract in accordance with an obligatory facultative agreement if the contract with the insurer contains reinsurance underwriting guidelines including, for both assumed and ceded reinsurance:\n(1) a list of reinsurers with whom the automatic agreements are in effect;\n(2) the coverages and amounts or percentages that may be reinsured; and\n(3) commission schedules.\n(c) A managing general agent may not commit an insurer to participate in insurance or reinsurance syndicates.\nAdded by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.","path":["INSURANCE CODE","TITLE 13. REGULATION OF PROFESSIONALS","SUBTITLE B. AGENTS","CHAPTER 4053. MANAGING GENERAL AGENTS","SUBCHAPTER C. POWERS AND DUTIES OF MANAGING GENERAL AGENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.4053.htm#4053.109","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"4280781cd3804a78bfbf583aa98f5c2a84487a5b8c5172c08870815c3368e531","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-4053.108","next":"us-tx/tex.-insurance-code-4053.110"},"notice":"GroundRules: Original legal text. Not legal advice."}