reglab/housing_qa huggingface dataset:
TX Ins Code § 841.417 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter I. Limited Purpose Subsidiary Life Insurance Companies|Section 841.417. Guaranty Requirements

Sec. 841.417.  GUARANTY REQUIREMENTS.  (a)  A guaranty may not be used to comply with this chapter without the prior written approval of the commissioner.(b)  Before approving a guaranty, the commissioner must find that:(1)  the guarantor has capital and surplus of $100 million, exclusive of investments in subsidiaries and affiliates;(2)  the guarantor has admitted assets backing capital and surplus in an amount sufficient to fulfill the guaranty, and the sufficiency on an ongoing basis is demonstrated to the satisfaction of the commissioner;(3)  the guarantor and all affiliates are in good standing with the department;(4)  the guarantor has provided all information requested by the commissioner; and(5)  the guarantor is otherwise acceptable to the commissioner.(c)  Notwithstanding Subsection (b), the commissioner may allow, subject to the commissioner's prior approval, an affiliated company of the holding company to serve as guarantor.  The commissioner may approve an affiliated company as a guarantor on a finding that the affiliated company possesses the independent financial means to discharge the guaranty using the affiliated company's own financial resources.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161), Sec. 1, eff. June 17, 2011.|
TX Ins Code § 841.418 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter I. Limited Purpose Subsidiary Life Insurance Companies|Section 841.418. Sunset Provision

Sec. 841.418.  SUNSET PROVISION.  This subchapter is valid for business sold only until January 1 of the year in which principle-based reserve requirements become operative in Texas under the adoption of the National Association of Insurance Commissioners' 2009 amendments to the NAIC Model Standard Valuation Law. After that January 1, the limited purpose subsidiary life insurance company may not assume new risks of a ceding insurer relating to business sold after that date.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161), Sec. 1, eff. June 17, 2011.|
TX Ins Code § 841.419 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter I. Limited Purpose Subsidiary Life Insurance Companies|Section 841.419. Certification of Actuarial Officer

Sec. 841.419.  CERTIFICATION OF ACTUARIAL OFFICER.  (a)  At the time a limited purpose subsidiary life insurance company files an application for a certificate of authority under this subchapter, and not later than March 1 of each year that a limited purpose subsidiary life insurance company is in operation and is ceded new business from a ceding insurer, a senior actuarial officer of each ceding insurer shall file with the commissioner a certification that the ceding insurer's transactions with the limited purpose subsidiary life insurance company are not being used to gain an unfair advantage in the pricing of the ceding insurer's products.(b)  A ceding insurer may not be deemed to have an unfair advantage if the pricing of the policies and contracts reinsured by the limited purpose subsidiary life insurance company reflects, at the time the policies and contracts were issued, a reasonable long-term estimate of the cost to the ceding insurer of an alternative third-party transaction, and uses current pricing assumptions.(c)  The ceding insurer shall keep documentation between examinations that sets forth the manner in which a senior actuarial officer arrived at the conclusions in the certification.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161), Sec. 1, eff. June 17, 2011.|
TX Ins Code § 841.420 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter I. Limited Purpose Subsidiary Life Insurance Companies|Section 841.420. Accounting and Financial Reporting

Sec. 841.420.  ACCOUNTING AND FINANCIAL REPORTING.  The commissioner shall prescribe accounting and financial reporting requirements with regard to the limited purpose subsidiary life insurance company and any insurer as defined by Section 841.402 that organizes a limited purpose subsidiary life insurance company.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161), Sec. 1, eff. June 17, 2011.|
TX Ins Code § 841.701 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter O. Enforcement and Intervention|Section 841.701. Revocation of Certificate of Authority

Sec. 841.701.  REVOCATION OF CERTIFICATE OF AUTHORITY.  (a)  If the commissioner determines that an insurance company that holds a certificate of authority does not comply with this chapter or another law described by Section 841.002, the commissioner shall notify the company that the commissioner intends to revoke its certificate of authority on the expiration of the 30-day period after the date actual notice is delivered or mailed under this section.(b)  Notice under this section must:(1)  be in writing;  and(2)  be delivered to an executive officer of the company by personal service or by registered mail.(c)  If an insurance company receiving notice under this section does not fully comply before the expiration of the period prescribed by Subsection (a), the commissioner shall revoke the company's certificate of authority.(d)  An insurance company whose certificate of authority is revoked under this section is not entitled to receive another certificate of authority for a period of one year and until the company has fully and in good faith complied with this chapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 841.702 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter O. Enforcement and Intervention|Section 841.702. Appeal of Determination to Revoke Certificate

Sec. 841.702.  APPEAL OF DETERMINATION TO REVOKE CERTIFICATE.  An insurance company aggrieved by an order of the commissioner to revoke the company's certificate of authority under Section 841.701 may file suit in a court in Travis County to vacate the order.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.022, eff. September 1, 2005.|
TX Ins Code § 841.703 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter O. Enforcement and Intervention|Section 841.703. Certificate of Authority Void on Failure to Satisfy Judgment

Sec. 841.703.  CERTIFICATE OF AUTHORITY VOID ON FAILURE TO SATISFY JUDGMENT.  (a)  If an officer holding an execution issued on a final judgment rendered against an insurance company demands payment of the judgment from an officer or attorney of record of the company and the company does not fully satisfy the judgment before the 31st day after the date the demand is made, the officer shall certify the demand and failure to the commissioner, regardless of whether the demand is made in this state.(b)  On receipt of a certification under Subsection (a), the commissioner shall declare void the certificate of authority issued to the company under this chapter.(c)  An insurance company whose certificate of authority is declared void under this section may not engage in the business of insurance in this state until:(1)  the judgment is fully satisfied and discharged;  and(2)  the commissioner renews the company's certificate of authority.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 841.704 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter O. Enforcement and Intervention|Section 841.704. False Statement, Report, or Other Document; Criminal Penalty

Sec. 841.704.  FALSE STATEMENT, REPORT, OR OTHER DOCUMENT;  CRIMINAL PENALTY.  (a)  A person commits an offense if the person executes or causes to be executed a statement, report, or other document required by law to be filed with the commissioner that contains a material statement or fact that the person knows to be false.(b)  A person commits an offense if the person is an officer of an insurance company that is not organized under the laws of this state and the person files a statement, report, or other document required by law to be filed with the commissioner that contains a material statement or fact that the person knows to be false.(c)  An offense under this section is punishable by imprisonment in the Texas Department of Criminal Justice for a term of not less than one year.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 25.120, eff. September 1, 2009.|
TX Ins Code § 841.705 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 841 - Life, Health, or Accident Insurance Companies|Subchapter O. Enforcement and Intervention|Section 841.705. Penalty for Failure to Invest or Report

Sec. 841.705.  PENALTY FOR FAILURE TO INVEST OR REPORT.  (a)  In addition to the penalty provided by this subchapter, an insurance company is subject to a penalty as prescribed by Subsection (b) if, while holding a certificate of authority to engage in the business of insurance in this state, or after the company ceases to write new business or ceases to hold a certificate of authority, the company intentionally fails or refuses to:(1)  make the investments required by Chapter 425;(2)  make a report required by a law described by Section 841.002;(3)  make any special report requested by the commissioner under a law described by Section 841.002; or(4)  comply with another provision of a law described by Section 841.002.(b)  A penalty under this section is in the amount of $25 per day for each day the company remains in default after the commissioner notifies the company of the default in the manner provided by this subchapter.(c)  A penalty under this section may be recovered in a suit brought by the attorney general on behalf of the state in a district court of Travis County.(d)  In a suit brought to recover a penalty under this section:(1)  there are rebuttable presumptions that:(A)  any default that may have occurred was intentional; and(B)  the notice required by Subsection (b) was given; and(2)  if the question of whether the investments required by Chapter 425 were made is at issue, the defendant insurance company has the burden of proving that the investments were made as required by that chapter.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 15, eff. April 1, 2007.|
TX Ins Code § 842.001 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter A. General Provisions|Section 842.001. Definitions

Sec. 842.001.  DEFINITIONS.  In this chapter:(1)  "Group hospital service corporation" means a corporation organized under this chapter to establish and operate a nonprofit hospital service plan, under which hospital care may be provided by the corporation through one or more hospitals and sanitariums with which the corporation has contracted for the provision of that care.(2)  "Health care provider" means a person, association, partnership, corporation, or other entity that provides a service or supplies to prevent, alleviate, cure, or heal human illness or injury.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.002 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter A. General Provisions|Section 842.002. Applicability of Other Laws

Sec. 842.002.  APPLICABILITY OF OTHER LAWS.  (a)  Except as otherwise required by this chapter, a state agency may not require a group hospital service corporation to post a bond or place a deposit with the agency or another agency of this state to begin or maintain operations authorized under this chapter.(b)  The group hospital service corporation is exempt from a provision of this code that is not expressly made applicable to the corporation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.003 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter A. General Provisions|Section 842.003. Corporation Subject to Regulation by Commissioner and Department

Sec. 842.003.  CORPORATION SUBJECT TO REGULATION BY COMMISSIONER AND DEPARTMENT.  Each group hospital service corporation is subject to regulation by the department and the commissioner.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.051 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter B. Formation and Structure of Group Hospital Service Corporation|Section 842.051. Application for Corporate Charter; Nonprofit Status Required

Sec. 842.051.  APPLICATION FOR CORPORATE CHARTER;  NONPROFIT STATUS REQUIRED.  (a)  Seven or more persons, a majority of whom are superintendents of hospitals or physicians licensed by the Texas State Board of Medical Examiners, may apply to the secretary of state for a corporate charter to operate a group hospital service corporation.(b)  A group hospital service corporation must be governed and operated as a nonprofit organization.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.052 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter B. Formation and Structure of Group Hospital Service Corporation|Section 842.052. Minimum Membership Requirements

Sec. 842.052.  MINIMUM MEMBERSHIP REQUIREMENTS.  (a)  Before a group hospital service corporation may be incorporated, the corporation must have collected in advance from at least 500 applicants for membership:(1)  the application fee;  and(2)  an amount at least equal to the amount charged by the corporation for one month's premium for coverage.(b)  A group hospital service corporation must maintain a membership of at least 500 as a condition of continued operation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.101 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter C. Authority to Engage in Business|Section 842.101. Issuance of Certificate of Authority

Sec. 842.101.  ISSUANCE OF CERTIFICATE OF AUTHORITY.  (a)  The department shall issue to a group hospital service corporation a certificate of authority that authorizes the corporation to engage in the business of a group hospital service corporation if the corporation:(1)  files a statement acceptable to the department showing solvency;  and(2)  complies with this chapter.(b)  The department shall charge the fee prescribed by law for the issuance of the certificate of authority.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.151 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter D. Board of Directors; Personnel|Section 842.151. Board of Directors

Sec. 842.151.  BOARD OF DIRECTORS.  (a)  Each group hospital service corporation is governed by a board of directors that has full control over its management affairs.(b)  A board of directors must be composed of at least 12 but not more than 20 directors.  A majority of the directors must be persons who:(1)  are not health care providers or employees of health care providers;  and(2)  do not have a financial interest in a health care provider.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.152 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter D. Board of Directors; Personnel|Section 842.152. Compensation of Directors

Sec. 842.152.  COMPENSATION OF DIRECTORS.  A director of a group hospital service corporation may not receive compensation for the director's services but is entitled to receive reimbursement for reasonable and necessary expenses incurred in attending a meeting called to manage or direct the affairs of the corporation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.153 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter D. Board of Directors; Personnel|Section 842.153. Board Meetings

Sec. 842.153.  BOARD MEETINGS.  The board of directors of a group hospital service corporation may not meet more frequently than once a month.  A meeting may not last more than five days.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.154 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter D. Board of Directors; Personnel|Section 842.154. Bond Requirements for Certain Officers and Employees

Sec. 842.154.  BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES.  (a)  Each group hospital service corporation shall post a bond for the officer or employee responsible for the handling of the corporation's money.  The bond must be:(1)  issued by a surety company licensed by the department to do business in this state;  and(2)  at all times in an amount at least equal to $25,000.(b)  In addition to the bond required under Subsection (a), the corporation shall post a separate bond or a blanket bond for all employees who have access to the money of the corporation.  The bond must be in a reasonable amount set by the commissioner in the amount of at least $500, not to exceed $10,000.(c)  A bond required by this section must be payable to the commissioner for the use and benefit of the corporation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.155 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter D. Board of Directors; Personnel|Section 842.155. Treasurer's Bond

Sec. 842.155.  TREASURER'S BOND.  The treasurer of each group hospital service corporation shall post a fidelity bond with a corporation surety.  The bond must be in the amount determined by the officers of the corporation as necessary to secure the faithful handling of the corporation's money.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.156 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter D. Board of Directors; Personnel|Section 842.156. Compensation of Certain Officers and Employees

Sec. 842.156.  COMPENSATION OF CERTAIN OFFICERS AND EMPLOYEES.  A paid officer or employee of a group hospital service corporation may not receive more than $20,000 annually as compensation for the officer's or employee's services unless a higher amount is first authorized by a vote of:(1)  the board of directors of the corporation;  or(2)  a committee of the board of directors that is charged with the duty of authorizing that compensation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 842.201 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter E. Regulation of Group Hospital Service Corporations|Section 842.201. Annual Statement; Filing Fee

Sec. 842.201.  ANNUAL STATEMENT;  FILING FEE.  (a)  Not later than March 1 of each year, each group hospital service corporation shall file with the department an annual statement that covers the operations for the preceding calendar year.(b)  The statement must be in the form prescribed by and provide the information required by the commissioner.(c)  The department shall charge a fee in an amount determined under Chapter 202 for filing the statement.|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.025, eff. April 1, 2009.|
TX Ins Code § 842.202 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle C - Life, Health, and Accident Insurers and Related Entities|Chapter 842 - Group Hospital Service Corporations|Subchapter E. Regulation of Group Hospital Service Corporations|Section 842.202. Reserve Requirements

Sec. 842.202.  RESERVE REQUIREMENTS.  (a)  Each group hospital service corporation shall maintain reserves sufficient to cover liability for claims incurred but not yet paid and the expenses incurred in settling those claims. (b)  A group hospital service corporation shall estimate the amount necessary to satisfy the reserve requirements using a method submitted to the commissioner for approval.  The estimate method used by the corporation is considered approved on the 30th day after the date filed with the commissioner unless the commissioner affirmatively approves or disapproves the method before that date.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|