{"data":{"id":"us-tx/tex.-insurance-code-884.502","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 884.502","heading":"DIRECT REINSURANCE AGREEMENT WITH LEGAL RESERVE COMPANY.","body":"(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.\n(b) Before a reinsurance agreement under this section may take effect, it must be:\n(1) approved by a majority vote of the board of directors of each company;\n(2) submitted to the department; and\n(3) approved by the department as complying with Section 884.503 or 884.504, as applicable.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["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"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.884.htm#884.502","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"ca65e7ae6d1d1db16e0aca265cb0d31d416b0013589e8dc44416d39c70fa901b","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-884.501","next":"us-tx/tex.-insurance-code-884.503"},"notice":"GroundRules: Original legal text. Not legal advice."}