{"data":{"id":"us-tx/tex.-insurance-code-964.104","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 964.104","heading":"ATTORNEY IN FACT REQUIREMENTS.","body":"The attorney in fact of a captive exchange must:\n(1) be:\n(A) a corporation organized in this state; or\n(B) a limited liability company organized in this state;\n(2) on the date of the captive exchange's formation, have and maintain a power of attorney with all subscribers of the captive exchange;\n(3) have its principal office in this state; and\n(4) have at least three members in the governing body of the attorney in fact, and at least one of those members must be a resident of this state.\nAdded by Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 2.01, eff. June 15, 2017.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE H. OTHER ENTITIES","CHAPTER 964. CAPTIVE INSURANCE COMPANIES","SUBCHAPTER C. CAPTIVE EXCHANGES"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.964.htm#964.104","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"8fa2ad93b4d6fc95a07592e09dc10d4b0aacc75f181db77d8d3570ccde24350a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-964.103","next":"us-tx/tex.-insurance-code-964.105"},"notice":"GroundRules: Original legal text. Not legal advice."}