Tex. Ins. Code § 463.162

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 463.162 - Assignment or Transfer of Credit

(a) A member insurer may assign or transfer a credit against premium tax to another member insurer if:

(1) an acquisition, merger, or total assumption of reinsurance occurs between the insurers; or

(2) the commissioner by order approves the assignment or transfer.

(b) Not later than the later of November 1 or the 60th day after the date of the assignment or transfer, each member insurer shall:

(1) report the assignment or transfer to the comptroller on a form the comptroller prescribes; and

(2) include with the report any documents from the commissioner that show approval of the assignment or transfer.

Tex. Ins. Code § 463.162

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.