reglab/housing_qa huggingface dataset:
TX Ins Code § 4051.354 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.354. Automatic Termination of Contract on Withdrawal From State or Reduction of Business

Sec. 4051.354.  AUTOMATIC TERMINATION OF CONTRACT ON WITHDRAWAL FROM STATE OR REDUCTION OF BUSINESS.  (a)  An insurer that withdraws from this state or reduces the insurer's total annual premium volume by at least 75 percent in any year is considered to have terminated the contracts of the insurer's agents.  Except as provided by Subsection (b), the insurer shall comply with the requirements of this subchapter.(b)  An insurer described by Subsection (a) shall renew each contract for property and casualty insurance for the affected agent for 24 months from the date of the notice of termination or suspension of the contract.(c)  This section does not apply to the transfer of business from an insurer to another insurer with which the agent has a contract and that:(1)  is under common ownership;  and(2)  is admitted to engage in the business of insurance in this state.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.355 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.355. Renewal of Insurance Contracts After Notice of Termination or Suspension

Sec. 4051.355.  RENEWAL OF INSURANCE CONTRACTS AFTER NOTICE OF TERMINATION OR SUSPENSION.  (a)  Except as provided by Subsection (b), an insurer that terminates or suspends an agent's contract with an appointed agent shall renew all contracts for property and casualty insurance for the agent during the six months after the effective date of the termination or suspension of the contract.(b)  The insurer may decline to renew an insurance contract if any risk does not meet the insurer's current underwriting standards.  The insurer must provide at least 60 days' notice to the agent of the insurer's intent not to renew the contract.(c)  An insurer that renews an insurance contract under this section shall pay to the agent commissions for the renewal according to the commission schedule that was in effect for the agent before the insurer's decision to terminate or suspend the agent's contract.(d)  An insurer that renews an insurance contract under this section may not require the agent to convert from agency billing to company billing during the termination period unless the agent agrees in writing to the conversion.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.356 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.356. Insurer Refusal to Renew Agent's Business Prohibited

Sec. 4051.356.  INSURER REFUSAL TO RENEW AGENT'S BUSINESS PROHIBITED.  During the term of the agent's contract, the insurer may not refuse to renew business from the agent that complies with the underwriting standards in effect for agents of the insurer whose contracts have not been terminated or suspended.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.357 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.357. Insurer Approval for New Business or Increase in Liability

Sec. 4051.357.  INSURER APPROVAL FOR NEW BUSINESS OR INCREASE IN LIABILITY.  An agent who receives notice of termination or suspension of the agent's contract from an insurer may not write, without the written approval of the insurer:(1)  any new business;  or(2)  any increase in liability on a renewal policy or an existing policy.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.358 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.358. Provision of Underwriting Standards to Agent Whose Contract Is Terminated or Suspended

Sec. 4051.358.  PROVISION OF UNDERWRITING STANDARDS TO AGENT WHOSE CONTRACT IS TERMINATED OR SUSPENDED.  (a)  On providing notice to an agent of termination or suspension of the agent's contract under this subchapter, the insurer shall provide to the agent the insurer's written underwriting standards.  The standards must conform to the underwriting standards that were in effect for that agent before the insurer's decision to terminate or suspend the agent's contract.(b)  An insurer may provide different underwriting standards to different agents of the insurer if the standards are not used in a way that prevents or discourages the renewal of the insurance policies of an agent whose contract is terminated or suspended.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.359 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.359. Payment of Money Due Insurer

Sec. 4051.359.  PAYMENT OF MONEY DUE INSURER.  An insurer shall allow an agent whose contract has been terminated or suspended under this subchapter to pay to the insurer all money due under the same accounts current payment terms in effect for agents of the insurer whose contracts have not been terminated or suspended.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.360 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.360. Revision of Termination Provisions of Agent's Contract

Sec. 4051.360.  REVISION OF TERMINATION PROVISIONS OF AGENT'S CONTRACT.  (a)  This subchapter does not prohibit an amendment of or addendum to an agent's contract providing that the contract may be terminated before the time required by this subchapter if the agent agrees in writing to the earlier termination.(b)  An insurer that proposes to revise the termination provisions of an agent's contract must first present the agent with a separate written impact statement that summarizes any effect that the proposed amendment or addendum would have on the agent's rights under this subchapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.361 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.361. Administrative Penalty

Sec. 4051.361.  ADMINISTRATIVE PENALTY.  If the department determines that an insurer has violated this subchapter, the insurer is subject to an administrative penalty as provided by Chapter 84 of not less than $1,000 or more than $10,000.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.362 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers|Section 4051.362. Action for Damages

Sec. 4051.362.  ACTION FOR DAMAGES.  An agent who has sustained actual damages as a result of an insurer's violation of this subchapter may bring an action against the insurer regardless of whether the department has determined that there has been a violation of this subchapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4051.401 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter I. Personal Lines Property and Casualty Agent|Section 4051.401. Personal Lines Property and Casualty License; License Required

Sec. 4051.401.  PERSONAL LINES PROPERTY AND CASUALTY LICENSE; LICENSE REQUIRED.  A person is required to hold a personal lines property and casualty license if the person acts as an agent who writes property and casualty insurance sold to individuals and families primarily for personal or household use for an insurer authorized to engage in the business of property and casualty insurance in this state.|Added by Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 1.01, eff. September 1, 2007.Amended by: Acts 2021, 87th Leg., R.S., Ch. 355 (H.B. 4030), Sec. 18, eff. September 1, 2021.|
TX Ins Code § 4051.402 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter I. Personal Lines Property and Casualty Agent|Section 4051.402. Authority to Write Additional Lines

Sec. 4051.402.  AUTHORITY TO WRITE ADDITIONAL LINES.  (a)  A person who holds a personal lines property and casualty license may write the kind of insurance contracts described by:(1)  this subchapter;(2)  Subchapters C and E; and(3)  Chapter 4055.(b)  In addition to any of the insurance contracts described by Subsection (a), a person who holds a personal lines property and casualty license may write accident and health insurance contracts for individuals and families for personal, family, or household purposes for a property and casualty insurer authorized to sell  those insurance products in this state.|Added by Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 1.01, eff. September 1, 2007.|
TX Ins Code § 4051.403 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter I. Personal Lines Property and Casualty Agent|Section 4051.403. Personal Lines Included in General Property and Casualty License

Sec. 4051.403.  PERSONAL LINES INCLUDED IN GENERAL PROPERTY AND CASUALTY LICENSE.  Notwithstanding Section 4051.401, a person who holds a general property and casualty license under Subchapter B may write the kinds of insurance described by this subchapter.|Added by Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 1.01, eff. September 1, 2007.|
TX Ins Code § 4051.404 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4051 - Property and Casualty Agents|Subchapter I. Personal Lines Property and Casualty Agent|Section 4051.404. Fees

Sec. 4051.404. FEES.  Section 4001.006 applies to all fees collected under this subchapter.|Added by Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 1.01, eff. September 1, 2007.|
TX Ins Code § 4053.001 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter A. General Provisions|Section 4053.001. Definitions

Sec. 4053.001.  DEFINITIONS.  In this chapter:(1)  "Affiliate" means a person who is classified as an affiliate under Section 823.003(a).(2)  "Insurer" means an insurance company, carrier, corporation, reciprocal or interinsurance exchange, mutual, association, county mutual insurance company, Lloyd's plan, or other insurance carrier authorized to engage in the business of insurance in this state.(3)  "Managing general agent" means a person, firm, or corporation that has supervisory responsibility for the local agency and field operations of an insurer in this state or that is authorized by an insurer to accept or process on the insurer's behalf insurance policies produced and sold by other agents.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.002 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter A. General Provisions|Section 4053.002. Exception

Sec. 4053.002.  EXCEPTION.  An agent licensed under Subchapter E, Chapter 981, Subchapters B-E or I, Chapter 4051, or Chapter 4056 is not a managing general agent unless the agent accepts 50 percent or more of the agent's total annual business or does $500,000 or more of total annual business as measured by premium volume, whichever amount is less, from insurance policies produced and sold by other agents.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 2.25, eff. September 1, 2007.|
TX Ins Code § 4053.003 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter A. General Provisions|Section 4053.003. Inapplicability of Chapter

Sec. 4053.003.  INAPPLICABILITY OF CHAPTER.  This chapter does not apply to:(1)  the transaction of the business of life, health, and accident insurance, including variable life insurance and variable annuity contracts;(2)  a full-time salaried employee of an insurer acting for and in connection with the insurance business of the insurer;  or(3)  an adjuster or inspector of risks for an insurer.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.004 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter A. General Provisions|Section 4053.004. Regulation of Managing General Agents

Sec. 4053.004.  REGULATION OF MANAGING GENERAL AGENTS.  This title applies to the licensing and regulation of a person acting as a managing general agent.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.005 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter A. General Provisions|Section 4053.005. Rules

Sec. 4053.005.  RULES.  The commissioner may adopt reasonable rules for the administration of this chapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.051 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter B. License Requirements|Section 4053.051. License Required; Exemptions

Sec. 4053.051.  LICENSE REQUIRED;  EXEMPTIONS.  (a)  Except as provided by Subsection (b), a person, firm, or corporation may not act as a managing general agent unless the person, firm, or corporation holds a license issued under this chapter.(b)  A business corporation is not required to hold a license issued under this chapter to act as a managing general agent if:(1)  the corporation is authorized to engage in business in this state;(2)  all of the corporation's outstanding stock is solely owned by an insurer authorized to engage in business in this state and the corporation's business affairs are completely controlled by that insurer;(3)  the principal purpose for which the corporation exists is to facilitate the accumulation of commissions from the insurer and its subsidiaries and affiliates for the account of and payment to an agent who could otherwise lawfully receive the commissions directly from the insurer and its subsidiaries and affiliates;  and(4)  the corporation does not engage in any other act of a managing general agent as provided by this chapter.(c)  Notwithstanding Subsection (b), the managing general agent shall execute on the insurer's behalf a contract entered into with an agent.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.053 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter B. License Requirements|Section 4053.053. Single License Required

Sec. 4053.053.  SINGLE LICENSE REQUIRED.  A license issued under this chapter entitles the license holder to represent or act for one or more insurers as a managing general agent.  The license holder is not required to hold a separate license for each insurer the license holder represents.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.054 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter B. License Requirements|Section 4053.054. Notice and Approval of Appointment

Sec. 4053.054.  NOTICE AND APPROVAL OF APPOINTMENT.  (a)  Each appointment to act as a managing general agent shall be reported to the commissioner on a form prescribed by the commissioner.(b)  The form must include:(1)  the details required by rules adopted under this chapter;(2)  the insurer's name and identifying number;(3)  the managing general agent's name and address;(4)  a statement by an officer of the insurer that the officer or the officer's agent has personal knowledge that the managing general agent has had experience or instruction that qualifies the agent to act as a managing general agent;(5)  a statement of whether the managing general agent may exercise claim settlement authority for the insurer and, if so:(A)  whether that authority exceeds $25,000 on any one claim;  and(B)  whether that authority includes third-party liability other than property damage;  and(6)  a statement of whether funds exceeding $100,000 are customarily held by the managing general agent to pay losses and loss adjustment expenses for the insurer.(c)  For each additional appointment for which a managing general agent applies, the agent shall pay a nonrefundable fee in an amount not to exceed $16 as determined by the department.(d)  If approval of an additional appointment is not received from the commissioner before the eighth day after the date the commissioner receives the completed application and fee, the managing general agent and insurer may assume, in the absence of notice of disapproval from the commissioner, that the commissioner approves the application and the managing general agent may act for the insurer.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.055 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter B. License Requirements|Section 4053.055. Lapse of License

Sec. 4053.055.  LAPSE OF LICENSE.  If a license holder is not appointed or under appointment to represent an insurer at the time the license is subject to renewal, the license lapses and the commissioner shall deny the renewal application.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.101 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter C. Powers and Duties of Managing General Agents|Section 4053.101. General Powers and Duties

Sec. 4053.101.  GENERAL POWERS AND DUTIES.  A managing general agent acting for an insurer may:(1)  receive and pass on daily reports and monthly accounts;(2)  receive and be responsible for agency balances;(3)  handle the adjustment of losses; or(4)  appoint or direct general property and casualty agents and personal lines property and casualty agents in this state.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 2.26, eff. September 1, 2007.|
TX Ins Code § 4053.102 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter C. Powers and Duties of Managing General Agents|Section 4053.102. Contracts

Sec. 4053.102.  CONTRACTS.  (a)  An insurer may not accept business from a managing general agent and the agent may not place business with the insurer without a written contract that addresses:(1)  the responsibilities of each party;(2)  cancellation or termination;(3)  reports, records, and auditing;  and(4)  if applicable:(A)  premium volume limits;(B)  appointment or cancellation of agents;(C)  claims settlement;(D)  underwriting;  and(E)  reinsurance.(b)  The commissioner may adopt rules establishing requirements for a contract with a managing general agent.(c)  A contract with a managing general agent and a report or record submitted under that contract are subject to review by the department under Section 38.001.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.103 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter C. Powers and Duties of Managing General Agents|Section 4053.103. Account Report

Sec. 4053.103.  ACCOUNT REPORT.  (a)  At least once each calendar quarter, a managing general agent shall submit an account report to each insurer with whom the agent has a contract.(b)  The account report must include, as applicable, a statement of:(1)  written, earned, and unearned premiums;(2)  losses and loss expenses paid and outstanding;(3)  losses incurred but not reported;  and(4)  management fees.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.104 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter C. Powers and Duties of Managing General Agents|Section 4053.104. Separate Records

Sec. 4053.104.  SEPARATE RECORDS.  (a)  For each insurer with which a managing general agent has a contract, the agent shall maintain separate records of the business handled by the agent for the insurer.(b)  The managing general agent shall make a record required under Subsection (a) available for inspection by:(1)  each insurer;  and(2)  the department's examiners.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.105 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter C. Powers and Duties of Managing General Agents|Section 4053.105. Escrow Account

Sec. 4053.105.  ESCROW ACCOUNT.  (a)  A managing general agent shall maintain an escrow account in a bank that:(1)  is a member of the Federal Reserve System;  and(2)  has its accounts insured by the Federal Deposit Insurance Corporation.(b)  On receipt, the managing general agent shall deposit in the escrow account all money collected for each insurer with which the agent has a contract.(c)  Except as provided by the contract required by Section 4053.102, a managing general agent may not use, take as an offset, or convert money that is or should have been deposited in the escrow account.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|
TX Ins Code § 4053.106 (2021)
2021 Texas Statutes|Insurance Code|Title 13 - Regulation of Professionals|Subtitle B - Agents|Chapter 4053 - Managing General Agents|Subchapter C. Powers and Duties of Managing General Agents|Section 4053.106. Fiduciary Capacity

Sec. 4053.106.  FIDUCIARY CAPACITY.  A managing general agent holds money on behalf of an insured or insurer in a fiduciary capacity and shall properly account for that money as required by law, department rules, and a contract with an insurer.  The department's examiners may audit money held in a fiduciary capacity.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.|