Statutes, codes, and regulations
Texas Administrative Code
Title 28 - INSURANCEPart 1 - TEXAS DEPARTMENT OF INSURANCEChapter 7 - CORPORATE AND FINANCIAL REGULATION
Subchapter F - REINSURANCE
Section 7.603 - Prohibition against Reinsurance with Assuming Insurers not Authorized to do the Business of Insurance in Texas

28 Tex. Admin. Code § 7.603

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Current through Reg. 49, No. 49; December 6, 2024
Section 7.603 - Prohibition against Reinsurance with Assuming Insurers not Authorized to do the Business of Insurance in Texas

Notwithstanding any other section in this subchapter, an insurer operating under Insurance Code § 841.204 having less than the minimum capital and surplus required for the formation of new companies under Insurance Code § 841.054 is prohibited from ceding an insurance risk of loss or part of an insurance risk of loss with any assuming insurer not authorized to do the business of insurance in Texas.

28 Tex. Admin. Code § 7.603

The provisions of this §7.603 adopted to be effective August 16, 1990, 15 TexReg 4435; Amended by Texas Register, Volume 43, Number 24, June 15, 2018, TexReg 3888, eff. 6/19/2018