Section 4152.201 - Contract Between Manager and Insurer(a) A manager and an insurer represented by the manager may enter into a transaction only under a written contract that:(1) is executed by a responsible officer of both the manager and the insurer;(2) is approved by the insurer's board of directors or attorney in fact;(3) specifies the responsibilities of each party;(4) identifies the rate, terms, and purpose of each commission, charge, or other fee the manager may assess the insurer; and(5) at a minimum, incorporates the requirements of Sections 4152.202-4152.214.(b) Not later than the 30th day before the date the insurer assumes or cedes business through the manager, a copy of the executed contract must be filed with the commissioner for approval.Tex. Ins. Code § 4152.201
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. 4/1/2005.