{"data":{"id":"us-tx/tex.-insurance-code-983.053","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 983.053","heading":"REDOMESTICATION: FOREIGN TO FOREIGN.","body":"(a) An insurer or health maintenance organization that is organized under the laws of another state and authorized to engage in the business of insurance or the business of a health maintenance organization in this state may redomesticate to another foreign state without interruption of its authority to engage in business in this state as a foreign insurer or health maintenance organization, as applicable, if:\n(1) the entity:\n(A) amends or restates its articles of incorporation as required by law; and\n(B) provides proper notice to the commissioner; and\n(2) the commissioner:\n(A) determines that:\n(i) the proposed redomestication would not, on the effective date of redomestication, result in a reduction in the amount of the entity's capital or surplus below the amount required for authorization as a foreign insurer or health maintenance organization, as applicable;\n(ii) there would not be a material change in the lines of insurance to be written or health care plan provided by the entity;\n(iii) the proposed redomestication has been approved by the supervising regulatory officials of both the current and proposed state of domicile;\n(iv) the proposed redomestication would not be detrimental to the interest of the insurer's policyholders or the health maintenance organization's enrollees in this state; and\n(v) the proposed redomestication is not related to a change in the control of the entity, unless the commissioner has given prior approval to the change in control; and\n(B) approves the redomestication.\n(b) Subsection (a)(2)(A)(v) does not apply if the redomesticating insurer or health maintenance organization is to become a parent, subsidiary, or affiliate of a qualified insurer or health maintenance organization, as applicable, that has held a certificate of authority in this state for at least seven years before the date of the redomestication.\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 I. SURPLUS LINES INSURERS; COMPANIES NOT ORGANIZED IN TEXAS","CHAPTER 983. REDOMESTICATION OF INSURERS AND HEALTH MAINTENANCE ORGANIZATIONS","SUBCHAPTER B. REDOMESTICATION PROCESS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.983.htm#983.053","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"303be1d2f674f8213dcfde99282a1f25a55b42bc84649689ff2775bcb272396a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-983.052","next":"us-tx/tex.-insurance-code-983.054"},"notice":"GroundRules: Original legal text. Not legal advice."}