reglab/housing_qa huggingface dataset:
TX Ins Code § 941.205 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter E. Financial Requirements|Section 941.205. Joint Control of Minimum Assets

Sec. 941.205.  JOINT CONTROL OF MINIMUM ASSETS.  (a)  To the extent of the minimum required under this subchapter, the assets of a Lloyd's plan must be made subject to the joint control of the attorney in fact and the department, in a manner satisfactory to the department, so that the assets may not be withdrawn, diverted, or spent without the approval of the department or for a purpose not permitted under this chapter.(b)  The underwriters are entitled to the interest or income accruing from property or securities placed under joint control under Subsection (a) as the interest or income becomes payable.(c)  As an alternative to submitting assets to joint control under Subsection (a), an attorney in fact for a Lloyd's plan engaged in business before August 20, 1929, may execute a bond in the amount of $25,000 for the safekeeping of assets, to be released only on approval of the department.  The corporate surety and the form of the bond must be approved by the department.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.206 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter E. Financial Requirements|Section 941.206. Hazardous Financial Condition, Supervision, Conservatorship, and Liquidation; Impairment of Surplus

Sec. 941.206.  HAZARDOUS FINANCIAL CONDITION, SUPERVISION, CONSERVATORSHIP, AND LIQUIDATION; IMPAIRMENT OF SURPLUS.  (a)  Subchapter A, Chapter 404, and Chapters 441 and 443 apply to a Lloyd's plan engaged in the business of insurance in this state.(b)  Subchapter B, Chapter 404, applies to a Lloyd's plan.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.117, eff. April 1, 2009.|
TX Ins Code § 941.251 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter F. Regulation of Lloyd's Plan|Section 941.251. Examinations

Sec. 941.251.  EXAMINATIONS.  (a)  The provisions of Sections 86.001, 86.002, 401.051, 401.052, 401.054-401.062, 401.151, 401.152, 401.155, and 401.156 that relate to the examination of insurers apply to a Lloyd's plan.(b)  The department may examine the books and affairs of an attorney in fact for a Lloyd's plan.  The attorney in fact and each deputy attorney in fact shall facilitate the examination and furnish any information reasonably required by the department.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.118, eff. April 1, 2009.|
TX Ins Code § 941.252 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter F. Regulation of Lloyd's Plan|Section 941.252. Annual Report

Sec. 941.252.  ANNUAL REPORT.  (a)  An attorney in fact shall annually file with the department a verified report on a form prepared by the department of:(1)  the business conducted by the attorney in fact on behalf of the Lloyd's plan during the preceding year;(2)  the condition of the affairs of the Lloyd's plan;  and(3)  any other information required by the department.(b)  The report must cover all of the business conducted by the attorney in fact on behalf of the Lloyd's plan, without regard to the place where the business was conducted.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.301 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter G. Foreign Lloyd's Plan|Section 941.301. Foreign Lloyd's Plan; Bond or Minimum Net Assets Required

Sec. 941.301.  FOREIGN LLOYD'S PLAN;  BOND OR MINIMUM NET ASSETS REQUIRED.  (a)  Except as provided by Subsection (b), the commissioner may not issue a certificate of authority to an attorney in fact if:(1)  the underwriters are not residents of this state;  or(2)  the underwriters maintain their principal office outside of this state.(b)  The department may issue a certificate of authority to an attorney in fact in circumstances described by Subsection (a) if the underwriters, at their option:(1)  file a bond with the department that complies with Section 941.302;  or(2)  maintain net assets in this state that:(A)  are subject to the joint control of the attorney in fact and the commissioner;  and(B)  meet the requirements of Subchapter E regarding the minimum amount of net assets of a Lloyd's plan.(c)  A deposit of securities made under Subsection (b)(2) is considered to have been made on the same terms and conditions as a bond executed in accordance with Section 941.302.(d)  If there is recovery on a deposit or bond made under this section, the commissioner shall immediately demand that additional security be provided to increase the amount of the bonds to the minimum amount required by this section.  The additional bond must be posted not later than the 30th day after the date the commissioner makes the demand.  Successive recoveries may be made on a bond made under this section until the principal amount of the bond is exhausted.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.302 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter G. Foreign Lloyd's Plan|Section 941.302. Bond of Foreign Lloyd's Plan

Sec. 941.302.  BOND OF FOREIGN LLOYD'S PLAN.  (a)  A bond filed under Section 941.301 must:(1)  be executed by corporate sureties that:(A)  meet the requirements imposed by the department;  and(B)  are authorized to engage in guaranty, fidelity, and surety business in this state;(2)  be in a principal amount that equals the minimum amount of net assets of a Lloyd's plan under this subchapter;(3)  be payable to the department;(4)  be conditioned for the payment of all claims arising under insurance policies or contracts:(A)  issued in this state;(B)  issued to residents of this state;  or(C)  covering property located in this state;  and(5)  be held by the department for the benefit of any person with a valid claim arising under an insurance policy or contract described by Subdivision (4).(b)  The bond must also provide that if a Lloyd's plan with outstanding insurance policies in favor of residents of this state or covering property located in this state becomes insolvent or ceases to engage in the business of insurance in this state, the department, after 10 days' notice to the attorney in fact for the Lloyd's plan or any receiver in charge of the Lloyd's plan's property and affairs, may contract with another insurer engaging in the business of insurance in this state for the assumption of and reinsurance by that insurer of:(1)  all of the Lloyd's plan's insurance risks outstanding in this state;  and(2)  all unsatisfied lawful claims outstanding against the Lloyd's plan.(c)  If the department enters into a contract described by Subsection (b) and the attorney general approves the contract as reasonable, the assuming insurer is entitled to recover from the makers of the bond filed under Section 941.301 the amount of the premium or compensation for reinsurance that is specified in the contract.(d)  A bond filed under Section 941.301 binds any additional or substitute underwriters of the Lloyd's plan.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.351 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter H. Conversion to Capital Stock Insurance Company|Section 941.351. Conversion Authorized

Sec. 941.351.  CONVERSION AUTHORIZED.  The underwriters may convert a Lloyd's plan to a capital stock insurance company governed by Chapter 822 by complying with this subchapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.352 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter H. Conversion to Capital Stock Insurance Company|Section 941.352. Adoption of Conversion Plan

Sec. 941.352.  ADOPTION OF CONVERSION PLAN.  The underwriters by a two-thirds vote may adopt a plan to convert the Lloyd's plan to a capital stock insurance company.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.353 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter H. Conversion to Capital Stock Insurance Company|Section 941.353. Requirements of Conversion Plan

Sec. 941.353.  REQUIREMENTS OF CONVERSION PLAN.  The conversion plan must provide that a capital stock insurance company will be formed in accordance with Chapter 822, except that:(1)  the company's required minimum capital and surplus must equal the required minimum guaranty fund and surplus of the Lloyd's plan;(2)  the company's assets may be in cash or in the form of an investment lawfully held by the Lloyd's plan;  and(3)  an original examination under Section 822.058(b) is not required unless directed by the commissioner.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.354 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter H. Conversion to Capital Stock Insurance Company|Section 941.354. Commissioner Approval of Conversion Plan

Sec. 941.354.  COMMISSIONER APPROVAL OF CONVERSION PLAN.  On the commissioner's approval of the conversion plan and the formation of the capital stock insurance company, all assets, interests, obligations, and liabilities of the Lloyd's plan, including all outstanding policies and insurance obligations, are transferred to the capital stock insurance company, except as otherwise provided by this subchapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.355 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter H. Conversion to Capital Stock Insurance Company|Section 941.355. Conversion of Member of Holding Company System

Sec. 941.355.  CONVERSION OF MEMBER OF HOLDING COMPANY SYSTEM.  If the Lloyd's plan is a member of a holding company system identified in registration information that the Lloyd's plan filed with the department in accordance with Chapter 823, the rights and interests of the underwriters in the capital stock insurance company may be assigned at the time of conversion to any affiliated person in that holding company system.  An assignment under this subsection is not:(1)  a change in control for the purposes of Section 822.212;  or(2)  an acquisition of control for the purposes of Chapter 823.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.701 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter O. Penalties|Section 941.701. Revocation of Certificate of Authority

Sec. 941.701.  REVOCATION OF CERTIFICATE OF AUTHORITY.  The commissioner shall revoke a certificate of authority issued to an attorney in fact if the attorney in fact or an underwriter violates this chapter or any other law of this state.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 941.702 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 941 - Lloyd's Plan|Subchapter O. Penalties|Section 941.702. Criminal Penalty

Sec. 941.702.  CRIMINAL PENALTY.  (a)  A person commits an offense if the person, as a principal, attorney in fact, agent, broker, or other representative, engages in the business of writing insurance on the Lloyd's plan in violation of this chapter.(b)  An offense under this section is punishable by a fine of not more than $500.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 942.001 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 942 - Reciprocal and Interinsurance Exchanges|Subchapter A. General Provisions|Section 942.001. Definitions

Sec. 942.001.  DEFINITIONS.  In this chapter:(1)  "Attorney in fact" means an individual, firm, or corporation who, under a power of attorney or other appropriate authorization of the attorney in fact, acts for subscribers of an exchange by issuing reciprocal or interinsurance contracts.(2)  "Exchange" means a reciprocal or interinsurance exchange and includes the office through which a reciprocal or interinsurance contract is exchanged.(3)  "Reciprocal or interinsurance contract" means an insurance policy or other contract that provides indemnity among a group of subscribers for certain losses.(4)  "Subscriber" means an individual, partnership, or corporation who, through an attorney in fact, enters into a reciprocal or interinsurance contract.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 942.002 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 942 - Reciprocal and Interinsurance Exchanges|Subchapter A. General Provisions|Section 942.002. Subscriber Insurance Coverage Through Exchange Authorized; Life Insurance Prohibited

Sec. 942.002.  SUBSCRIBER INSURANCE COVERAGE THROUGH EXCHANGE AUTHORIZED;  LIFE INSURANCE PROHIBITED.  (a)  Except as provided by Subsection (c), subscribers of this state may exchange reciprocal or interinsurance contracts with other subscribers of this state or of another state or country to provide indemnity among those subscribers for a loss for which insurance coverage may be obtained under other law.(b)  A public, private, or municipal corporation organized under the laws of this state may act as a subscriber, and the right to exchange a reciprocal or interinsurance contract is:(1)  incidental to the purpose for which the corporation is organized;  and(2)  in addition to the corporate rights and powers expressly conferred in the corporation's articles of incorporation.(c)  An exchange may not engage in the business of life insurance.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 942.003 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 942 - Reciprocal and Interinsurance Exchanges|Subchapter A. General Provisions|Section 942.003. Limited Exemption From Insurance Laws; Applicability of Certain Laws

Sec. 942.003.  LIMITED EXEMPTION FROM INSURANCE LAWS;  APPLICABILITY OF CERTAIN LAWS.  (a)  An exchange is exempt from the operation of all insurance laws of this state except as specifically provided in this chapter or unless exchanges are specifically mentioned in the other law.(b)  An exchange is subject to:(1)  Subchapter A, Chapter 5, Chapter 254, Subchapters A and B, Chapter 1806, and Subtitle C, Title 10;(2) Articles 5.35, 5.39, and 5.40;(3) Article 5.13-2, as provided by that article, Chapter 2251, as provided by that chapter, and Chapter 2301, as provided by that chapter;(4)  Chapters 402, 541, and 2253;(5)  Subchapter A, Chapter 401, and Sections 401.051, 401.052, 401.054, 401.055, 401.056, 401.057, 401.058, 401.059, 401.060, 401.061, 401.062, 401.151, 401.152, 401.155, and 401.156;(6)  Subchapter B, Chapter 404;(7)  Subchapter C, Chapter 1806; and(8)  Sections 38.001, 501.159, 822.203, 822.205, 822.210, 822.212, 861.254(a)-(f), 861.255, 862.001(b), 862.003, 2002.002, 2002.005, 2002.051, and 2002.052.(c)  Chapter 2007 applies to rates for motor vehicle insurance written by an exchange.(d)  The provisions of the Texas Business Corporation Act that relate to the indemnification of officers and directors apply to an exchange.(e)  Subscribers and their attorney in fact are subject to Sections 822.051, 822.057-822.060, and 822.201, except that:(1)  the declaration of the subscribers prescribed by Section 942.053 replaces the articles of incorporation;  and(2)  the unencumbered surplus of the exchange constitutes capital structure for purposes of Section 822.060.(f)  An exchange is subject to Chapter 2210, as provided by that chapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 206, Sec. 21.44(a), (b), eff. June 11, 2003.Amended by: Acts 2005, 79th Leg., Ch. 631 (H.B. 2565), Sec. 6, eff. September 1, 2005.Acts 2005, 79th Leg., Ch. 1295 (H.B. 2614), Sec. 3, eff. September 1, 2005.Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.119, eff. April 1, 2009.Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.027, eff. September 1, 2007.Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.027, eff. September 1, 2007.Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 43, eff. June 19, 2009.|
TX Ins Code § 942.051 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 942 - Reciprocal and Interinsurance Exchanges|Subchapter B. Formation and Structure of Exchange|Section 942.051. Appointment of Attorney in Fact; Approval by Department of Power of Attorney or Other Authorization Required

Sec. 942.051.  APPOINTMENT OF ATTORNEY IN FACT;  APPROVAL BY DEPARTMENT OF POWER OF ATTORNEY OR OTHER AUTHORIZATION REQUIRED.  (a)  A reciprocal or interinsurance contract may be executed by an attorney in fact appointed by the subscribers of an exchange.(b)  A corporation may be organized in this state to act as attorney in fact for an exchange.  The general laws regarding incorporation supplement this chapter to the extent consistent with this chapter.  A corporation organized in this state to act as attorney in fact for an exchange may be organized under the Texas Business Corporation Act, notwithstanding any conflicting provision of that Act.(c)  The form of the power of attorney or other document granting authority to the attorney in fact and under which the insurance is to be exchanged is subject to approval by the department.  This subsection may not be construed to permit the department to require the filing or use of uniform forms of those documents except as otherwise provided by this chapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 942.052 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 942 - Reciprocal and Interinsurance Exchanges|Subchapter B. Formation and Structure of Exchange|Section 942.052. Security Requirements

Sec. 942.052.  SECURITY REQUIREMENTS.  (a)  Except as provided by Subsection (d), to act as an attorney in fact, an individual, firm, or corporation must execute a good and sufficient fidelity bond that obligates the principal and surety to pay a pecuniary loss of money or property, not exceeding the amount of the bond, that is sustained by the exchange through fraud, dishonesty, forgery, theft, embezzlement, wrongful abstraction, or wilful misapplication on the part of the attorney in fact, directly or through connivance with others.(b)  The bond must:(1)  be acceptable to the department;(2)  be payable to the subscribers or the department;  and(3)  be in the amount of:(A)  $25,000 for an individual or firm;  or(B)  $50,000 for a corporation.(c)  If the conditions of the bond are violated, the insurance supervisory authority of any state in which the attorney in fact is authorized to engage in the business of the exchange may bring an action to enforce the bond on behalf of the subscribers.(d)  Instead of a bond, an attorney in fact may deposit with the appropriate official of the exchange's state of domicile cash or securities of the kind in which a general casualty company is authorized to invest its funds.  The deposit must be made in the same amount, and must be conditioned, approved, and payable in the same manner, as a bond required under this section.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 942.053 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 942 - Reciprocal and Interinsurance Exchanges|Subchapter B. Formation and Structure of Exchange|Section 942.053. Subscriber Declaration

Sec. 942.053.  SUBSCRIBER DECLARATION.  (a)  On entering into a reciprocal or interinsurance contract, the subscribers, through the attorney in fact, shall file with the department a declaration verified by the oath of the attorney in fact.(b)  The declaration must include:(1)  the name of the proposed exchange;(2)  the kinds of insurance to be provided under the reciprocal or interinsurance contract;(3)  a copy of the form of the power of attorney or other authorization of the attorney in fact under which the insurance is to be provided;(4)  the location of each office from which the reciprocal or interinsurance contracts are to be issued;  and(5)  any other information prescribed by the department, including an affidavit comparable to the affidavit prescribed by Section 822.057(a)(3).|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 942.054 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 942 - Reciprocal and Interinsurance Exchanges|Subchapter B. Formation and Structure of Exchange|Section 942.054. Name of Exchange

Sec. 942.054.  NAME OF EXCHANGE.  (a)  The name of an exchange must contain the term "reciprocal," "inter-insurance exchange," "underwriters," "association," "exchange," "underwriting," "inter-insurers," or "inter-insurors."(b)  The name selected for an exchange may not be so similar to the name of a similar organization or an insurer that, in the opinion of the department, the name is calculated to confuse or deceive.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 942.055 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle G - Lloyd's Plan and Reciprocal and Interinsurance Exchanges|Chapter 942 - Reciprocal and Interinsurance Exchanges|Subchapter B. Formation and Structure of Exchange|Section 942.055. Office Locations

Sec. 942.055.  OFFICE LOCATIONS.  The attorney in fact shall maintain the offices of the exchange at the places designated by the subscribers in the power of attorney or other authorization.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|