Section 6.301 - Ongoing RequirementsA captive insurance company must comply with Insurance Code Chapter 964, the Business Organizations Code, and this chapter, including:
(1) providing biographical information as required under § 6.303 of this title (relating to Captive Insurance Company Biographical Information);(2) writing an annual premium amount of at least $100,000;(3) having an affiliate or ultimate controlling person with the financial wherewithal to continue placing the risk in the captive insurance company;(4) complying with § 6.306 and § 7.1403 of this title (relating to Books and Records and Service on Domestic Insurance Companies Licensed by the State Board of Insurance and on Related Entities Authorized To Conduct Business in Texas);(5) submitting annual reports and audited financial statements as described in §§ 6.401, 6.403, and 6.404 of this title (relating to Annual Report, Audited Financial Statements, and Captive Insurance Companies Using Other Than Calendar Year Fiscal Years);(6) notifying the department of any material change in the captive insurance company's plan of operation, as described in § 6.304 of this title (relating to Material Change in the Plan of Operations);(7) maintaining minimum capital and surplus as established by the department;(8) except as provided in paragraph (6) of this section, notifying the department of any change to the information provided in the application within 30 days following the change; and(9) timely payment of all required fees and registrations, including payments required by the Texas Secretary of State to maintain the captive insurance company in good standing.28 Tex. Admin. Code § 6.301
The provisions of this §6.301 adopted to be effective April 27, 2014, 39 TexReg 3232