reglab/housing_qa huggingface dataset:
TX Ins Code § 823.006 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.006. Description of Insurance Holding Company System

Sec. 823.006.  DESCRIPTION OF INSURANCE HOLDING COMPANY SYSTEM.  An insurance holding company system consists of two or more affiliates, at least one of which is an insurer.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.007 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.007. Description of Voting Security

Sec. 823.007.  DESCRIPTION OF VOTING SECURITY.  For purposes of this chapter, a voting security is a security or an instrument that:(1)  has the power at a meeting of shareholders of a person to vote for or against the election of directors of the person or any other matter involving the direction of the management and policies of the person;  or(2)  under rules adopted by the commissioner in the public interest, the commissioner considers to be of similar nature to that described by Subdivision (1) and considers necessary or appropriate to treat as a voting security.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.008 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.008. Standard for Determining Surplus Reasonableness and Adequacy

Sec. 823.008.  STANDARD FOR DETERMINING SURPLUS REASONABLENESS AND ADEQUACY.  (a)  In determining whether an insurer's policyholders' surplus is reasonable in relation to the insurer's outstanding liabilities and adequate to the insurer's financial needs, the following factors, among others, shall be considered:(1)  the size of the insurer as measured by its assets, capital and surplus, reserves, premium writings, insurance in force, and other appropriate criteria;(2)  the extent to which the insurer's business is diversified among the different lines of insurance;(3)  the number and size of risks insured in each line of insurance;(4)  the extent of the geographical dispersion of the insurer's insured risks;(5)  the nature and extent of the insurer's reinsurance program;(6)  the quality, diversification, and liquidity of the insurer's investment portfolio;(7)  the recent past and projected future trend in the size of the insurer's:(A)  policyholders' surplus;  and(B)  investment portfolio;(8)  the policyholders' surplus maintained by comparable insurers;(9)  the adequacy of the insurer's reserves;(10)  the quality and liquidity of investments in subsidiaries made under Subchapter F;  and(11)  the quality of the insurer's earnings and the extent to which the insurer's reported earnings include extraordinary items.(b)  The commissioner may treat an investment described by Subsection (a)(10) as a nonadmitted or disallowed asset for purposes of Subsection (a) if in the commissioner's judgment the investment justifies that treatment.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.009 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.009. Situs of Securities of Domestic Insurer

Sec. 823.009.  SITUS OF SECURITIES OF DOMESTIC INSURER.  For purposes of this chapter, the situs of the ownership of securities of a domestic insurer is considered to be in this state.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.010 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.010. Disclaimer of Affiliation

Sec. 823.010.  DISCLAIMER OF AFFILIATION.  (a)  A disclaimer of affiliation with an authorized insurer may be filed with the commissioner by any person, including the authorized insurer or a member of an insurance holding company system.(b)  The disclaimer must fully disclose:(1)  all material relationships and bases for affiliation between the person and the insurer;  and(2)  the basis for disclaiming the affiliation.(c)  Except as provided by Subsection (d), the disclaimer shall be deemed to have been allowed unless, not later than 60 days after the receipt of a complete disclaimer, the commissioner notifies the filing party that the disclaimer is disallowed.(d)  Notwithstanding Subsection (c), if the commissioner at any time determines that the information disclosed in the disclaimer is incomplete or inaccurate or is no longer accurate, the commissioner may disallow the disclaimer.(e)  If the commissioner disallows a disclaimer, the party who filed the disclaimer may request an administrative hearing.  The commissioner shall grant the request for the hearing.(f)  Except as provided by Subsection (h), if the commissioner allows a disclaimer:(1)  the insurer is not required to register or report under Subchapter B due to a duty arising from the insurer's relationship with the party who filed the disclaimer; and(2)  the party who filed the disclaimer is not required to comply with Section 823.154, 823.155, 823.159, or 823.160.(g)  If the commissioner allows a disclaimer, the commissioner at the same time may also waive another provision of this chapter with relation to the party who filed the disclaimer.  The commissioner may require reasonable controls and safeguards that are consistent with the purposes of this chapter in granting a waiver under this subsection.(h)  If the commissioner disallows a disclaimer under Subsection (d):(1)  effective on the date of the disallowance, the insurer shall register and report as required by Subchapter B; and(2)  the party who filed the disclaimer shall comply with Sections 823.154, 823.155, 823.159, and 823.160.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 922 (S.B. 1431), Sec. 2, eff. September 1, 2011.|
TX Ins Code § 823.012 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.012. Rules; Procedures for Considering Certain Distributions

Sec. 823.012.  RULES;  PROCEDURES FOR CONSIDERING CERTAIN DISTRIBUTIONS.  (a)  The commissioner may, after notice and opportunity for all interested persons to be heard, adopt rules and issue orders to implement this chapter, including the conducting of business and proceedings under this chapter.(b)  The commissioner by rule shall establish procedures to:(1)  promptly consider the prepayment notices reported under Section 823.053(b);(2)  annually review each reported ordinary dividend paid within the 12 months preceding the date of the report;  and(3)  take appropriate actions authorized by this code.(c)  A procedure established under Subsection (b)(1) must include consideration of the factors provided by Section 823.008.(d)  A rule or order under this section must be consistent with this chapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.013 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.013. Mandamus

Sec. 823.013.  MANDAMUS.  A person aggrieved by the failure of the commissioner to act, including making a determination, as required by this chapter may petition a district court of Travis County for a writ in the nature of a mandamus or a peremptory mandamus directing the commissioner to immediately act or make the determination.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.014 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.014. Applicability of Chapter to Foreign or Alien Insurer

Sec. 823.014.  APPLICABILITY OF CHAPTER TO FOREIGN OR ALIEN INSURER.  (a)  A foreign insurer that is authorized to engage in the business of insurance in this state and that is domiciled in a jurisdiction that has not adopted, by statute or regulation, controls considered by the commissioner to be substantially similar to those provided by this chapter:(1)  is subject to this chapter to the same extent as a domestic insurer;  and(2)  on failure to comply with this chapter, is subject to all remedies, penalties, and sanctions authorized by this code in the same manner as a domestic insurer, including, after notice and hearing, the suspension or revocation of the insurer's certificate of authority to engage in the business of insurance in this state.(b)  If a jurisdiction adopts controls considered by the commissioner to be substantially similar to those provided by this chapter, the commissioner after that adoption may exempt an insurer domiciled in that jurisdiction from the application of this section.(c)  Notwithstanding Subsection (a), a foreign or alien insurer is not subject to this chapter if the commissioner has approved a withdrawal plan for the insurer under Chapter 827.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.0145 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.0145. Supervisory Colleges

Sec. 823.0145.  SUPERVISORY COLLEGES.  (a)  With respect to any insurer registered under Subchapter B, and in accordance with Subsection (c), the commissioner may participate in a supervisory college for a domestic insurer that is part of an insurance holding company system with international operations in order to determine the insurer's compliance with this chapter.  The commissioner may:(1)  initiate the establishment of a supervisory college;(2)  clarify the membership and participation of other entities in the supervisory college;(3)  clarify the functions of the supervisory college and the role of other entities in the supervisory college;(4)  establish a group-wide supervisor;(5)  coordinate the ongoing activities of the supervisory college, including meetings, regulatory activities, and processes for information sharing; and(6)  establish a crisis management plan.(b)  In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes, and as part of the examination of individual insurers under Subchapter H, the commissioner may participate in a supervisory college with other entities that regulate the insurer or its affiliates, including other state, federal, and international regulatory entities.  The commissioner may enter into agreements under Section 823.011 to cooperate with other regulatory entities.  Nothing in this section shall be construed as delegating to the supervisory college the commissioner's authority to regulate the insurer or its affiliates.(c)  A registered insurer subject to this section shall pay the reasonable expenses, including reasonable travel expenses, of the commissioner's participation in a supervisory college under Subsection (b).  For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the entities that regulate the insurer or its affiliates, and the commissioner may establish a regular assessment to the insurer for the payment of expenses related to the regulation of the insurer.|Added by Acts 2011, 82nd Leg., R.S., Ch. 922 (S.B. 1431), Sec. 4, eff. September 1, 2011.|
TX Ins Code § 823.015 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter A. General Provisions|Section 823.015. Exemption From Chapter

Sec. 823.015.  EXEMPTION FROM CHAPTER.  The commissioner may exempt from the application of this chapter a commercially domiciled insurer that the commissioner determines has assets physically located in this state or an asset-to-liability ratio sufficient to justify the conclusion that there is no reasonable danger that the operations or conduct of the business of the insurer could present a danger of loss to the policyholders of this state.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2005, 79th Leg., Ch. 884 (S.B. 1283), Sec. 1, eff. September 1, 2005.|
TX Ins Code § 823.051 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.051. Registration by Insurer Required

Sec. 823.051.  REGISTRATION BY INSURER REQUIRED.  (a)  Each insurer authorized to engage in the business of insurance in this state that is a member of an insurance holding company system shall register with the commissioner.  The insurer shall register not later than the 15th day after the date the insurer becomes subject to registration under this subchapter.(b)  The commissioner for good cause shown may extend the period for registration under this section.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.053 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.053. Reporting Material Changes

Sec. 823.053.  REPORTING MATERIAL CHANGES.  (a)  To keep the information required to be disclosed in a registration statement filed under Section 823.052 current, a registered insurer shall report each material change to the information, including the addition of information, not later than the 15th day after the last day of the month in which the insurer learns of the change.(b)  Subject to Section 823.107, each registered insurer shall report each dividend or distribution made to the shareholders not later than the earlier of:(1)  the second business day after the date the dividend or distribution is declared;  or(2)  the 11th day before the date of payment.(c)  For purposes of this section, reports are considered to be made when received by the department.(d)  Reports made under this section are for informational purposes only.(e)  An insurer is not required to report under this section a transaction that is approved under Section 823.103. That approval is considered to be an amendment of the registration statement filed under Section 823.052 without being reported under this section.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1087 (H.B. 3460), Sec. 3, eff. June 14, 2013.|
TX Ins Code § 823.054 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.054. Material Information

Sec. 823.054.  MATERIAL INFORMATION.  (a)  Information about a transaction is not required to be disclosed on a registration statement filed under Section 823.052 or in a report under Section 823.053 unless the transaction is considered to be material under this section.(b)  If the amount of a single transaction or the total amount of all transactions involving sales, purchases, exchanges, loans or other extensions of credit, or investments is more than one-half of one percent of an insurer's admitted assets as of December 31 of the year preceding the date of the transaction or transactions, the transaction or transactions, respectively, are considered to be material for purposes of this section.(c)  Each dividend or distribution to shareholders is material for the purposes of this section.(d)  The commissioner, by rule or order, may provide a standard that is different from the standard provided by Subsection (b).|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2017, 85th Leg., R.S., Ch. 38 (H.B. 3220), Sec. 4, eff. May 19, 2017.Acts 2017, 85th Leg., R.S., Ch. 67 (S.B. 1073), Sec. 1, eff. May 22, 2017.|
TX Ins Code § 823.055 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.055. Annual Registration Statement; Summary of Material Changes

Sec. 823.055.  ANNUAL REGISTRATION STATEMENT; SUMMARY OF MATERIAL CHANGES.  (a)  In this section, "ultimate controlling person" means the person in an insurance holding company system who is not controlled by another person.(b)  Not later than the 120th day after the last day of each fiscal year of the ultimate controlling person, each registered insurer in the ultimate controlling person's insurance holding company system shall file an annual registration statement.(c)  An insurer required to file an annual registration statement shall also furnish a summary of material changes from the prior year's annual registration statement as specified by the commissioner by rule.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2007, 80th Leg., R.S., Ch. 157 (S.B. 1542), Sec. 2, eff. September 1, 2007.|
TX Ins Code § 823.056 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.056. Termination of Registration

Sec. 823.056.  TERMINATION OF REGISTRATION.  The commissioner shall terminate the registration of an insurer that demonstrates that the insurer has ceased to be a member of an insurance holding company system.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.057 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.057. Consolidated Filing

Sec. 823.057.  CONSOLIDATED FILING.  The commissioner may require or permit two or more insurers that are affiliates of each other and that are required to register under this chapter to file:(1)  a consolidated registration statement;  or(2)  a consolidated report amending:(A)  the consolidated registration statement;  or(B)  the individual registration statement of each insurer.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.058 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.058. Alternative Registration

Sec. 823.058.  ALTERNATIVE REGISTRATION.  The commissioner may permit an insurer authorized to engage in the business of insurance in this state that is a part of an insurance holding company system to:(1)  register on behalf of another insurer that is an affiliate of the insurer and that is required to register under Section 823.051;  and(2)  file on behalf of the affiliate all information and material required to be filed under this subchapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.059 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.059. Exemptions

Sec. 823.059.  EXEMPTIONS.  (a)  The registration requirement under Section 823.051 does not apply to a foreign or nondomestic insurer, other than a commercially domiciled insurer, that is subject to disclosure requirements adopted by statute or regulation in the jurisdiction of its domicile that are substantially similar to the disclosure requirements provided by this chapter.(b)  The commissioner may require an insurer that is exempt from registration under Subsection (a) to provide a copy of the registration statement or other information filed by the insurer with the insurance regulatory authority of its domiciliary jurisdiction.(c)  The commissioner, by rule or order, may exempt an insurer, information, or a transaction from the application of this subchapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 823.060 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter B. Registration|Section 823.060. Violation of Subchapter

Sec. 823.060.  VIOLATION OF SUBCHAPTER.  The failure to file a registration statement or an amendment to a registration statement, or an enterprise risk report, within the time specified for filing the statement, amendment, or report, as required by this subchapter, is a violation of this subchapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 922 (S.B. 1431), Sec. 7, eff. September 1, 2011.|
TX Ins Code § 823.101 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 823 - Insurance Holding Company Systems|Subchapter C. Transactions of Registered Insurer|Section 823.101. Standards for Transaction Within an Insurance Holding Company System

Sec. 823.101.  STANDARDS FOR TRANSACTION WITHIN AN INSURANCE HOLDING COMPANY SYSTEM.  (a)  This section applies only to a material transaction within an insurance holding company system to which an insurer subject to a registration under Section 823.052 is a party.(b)  The terms of the transaction shall be fair and equitable.(b-1)  An agreement, including an agreement for cost-sharing, services, or management, must include all provisions required by rule of the commissioner.(c)  The charges or fees for services performed shall be reasonable.(d)  The books, accounts, and records of each party to the transaction shall be maintained so that the precise nature and details of the transaction are clearly and accurately disclosed.(e)  The expenses incurred and payments received relating to the transaction shall be allocated to the registered insurer on an equitable basis in conformity with customary insurance accounting principles consistently applied.(f)  After a registered insurer pays a dividend or makes a distribution to a holding company or shareholder affiliate of the insurer, the insurer's policyholders' surplus shall be reasonable in relation to the insurer's outstanding liabilities and adequate to the insurer's financial needs.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 922 (S.B. 1431), Sec. 8, eff. September 1, 2011.Acts 2011, 82nd Leg., R.S., Ch. 922 (S.B. 1431), Sec. 9, eff. September 1, 2011.|