reglab/housing_qa huggingface dataset:
TX Ins Code § 981.005 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter A. General Provisions|Section 981.005. Validity of Contracts

Sec. 981.005.  VALIDITY OF CONTRACTS.  (a)  Unless a material and intentional violation of this chapter or Chapter 225 exists, an insurance contract obtained from an eligible surplus lines insurer is:(1)  valid and enforceable as to all parties; and(2)  recognized in the same manner as a comparable contract issued by an authorized insurer.(b)  A material and intentional violation of this chapter or Chapter 225 does not preclude the insured from enforcing the insured's rights under the contract.|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.125, eff. April 1, 2009.|
TX Ins Code § 981.006 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter A. General Provisions|Section 981.006. Sanctions

Sec. 981.006.  SANCTIONS.  Chapter 82 applies to a surplus lines agent or an eligible surplus lines insurer that violates:(1)  this chapter;(2)  Chapter 225; or(3)  a rule or order adopted under Subchapter B or B-1 or Section 981.005.|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.126, eff. April 1, 2009.Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 4, eff. January 1, 2018.|
TX Ins Code § 981.007 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter A. General Provisions|Section 981.007. Liability of Surplus Lines Insurer for Losses and Unearned Premiums

Sec. 981.007.  LIABILITY OF SURPLUS LINES INSURER FOR LOSSES AND UNEARNED PREMIUMS.  (a)  This section applies if:(1)  an eligible surplus lines insurer has assumed a risk under this chapter;  and(2)  the surplus lines agent who placed the insurance has received the premium for that risk.(b)  If a coverage question between the eligible surplus lines insurer and the insured arises regarding the assumed risk, the insurer is considered to have received the premium due for that coverage.(c)  The eligible surplus lines insurer is liable to the insured for any:(1)  loss covered by the insurance;  and(2)  unearned premium payable to the insured on cancellation of the insurance.(d)  This section applies without regard to whether the surplus lines agent is indebted to the insurer regarding the insurance or for any other cause.(e)  An eligible surplus lines insurer that assumes a risk under this chapter subjects itself to this section.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.008 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter A. General Provisions|Section 981.008. Surplus Lines Insurance Premium Tax

Sec. 981.008.  SURPLUS LINES INSURANCE PREMIUM TAX.  The premiums charged for surplus lines insurance are subject to the premium tax, if applicable, imposed under Chapter 225.|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.127, eff. April 1, 2009.Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 18.10, eff. September 28, 2011.|
TX Ins Code § 981.009 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter A. General Provisions|Section 981.009. Rules

Sec. 981.009.  RULES.  The commissioner may adopt rules to implement this chapter or satisfy requirements under federal law or regulations.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 10A.228(a), eff. Sept. 1, 2003.|
TX Ins Code § 981.051 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. Eligibility Requirements for Surplus Lines Insurers|Section 981.051. Authorization Required

Sec. 981.051.  AUTHORIZATION REQUIRED.  (a)  Before an insurer may issue surplus lines insurance, the insurer must hold an authorization to engage in the business of insurance from its domiciliary state or country.(b)  The authorization from the domiciliary state or country must be for the same kind or class of insurance to be written in this state as surplus lines insurance.(c)  The surplus lines insurer must provide to the commissioner satisfactory evidence that the insurer holds the authorization.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.054 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. Eligibility Requirements for Surplus Lines Insurers|Section 981.054. Certain Preconditions Not Allowed

Sec. 981.054.  CERTAIN PRECONDITIONS NOT ALLOWED.  An eligible surplus lines insurer may not require as a condition precedent to writing new or renewal surplus lines insurance that the insured or prospective insured place with the insurer other insurance that is not obtainable as surplus lines insurance.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.057 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. Eligibility Requirements for Surplus Lines Insurers|Section 981.057. Minimum Capital and Surplus Requirements

Sec. 981.057.  MINIMUM CAPITAL AND SURPLUS REQUIREMENTS.  (a)  Except as provided by Subsection (b), an eligible surplus lines insurer must maintain capital and surplus in an amount of at least $15 million.(b)  Subsection (a) does not apply to alien surplus lines insurers listed on the Quarterly Listing of Alien Insurers maintained by the International Insurers Department, National Association of Insurance Commissioners. |Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 595 (S.B. 951), Sec. 6, eff. June 14, 2013.|
TX Ins Code § 981.058 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. Eligibility Requirements for Surplus Lines Insurers|Section 981.058. Alien Insurers

Sec. 981.058.  ALIEN INSURERS.  An alien surplus lines insurer must be listed on the Quarterly Listing of Alien Insurers maintained by the International Insurers Department, National Association of Insurance Commissioners.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 595 (S.B. 951), Sec. 7, eff. June 14, 2013.|
TX Ins Code § 981.063 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. Eligibility Requirements for Surplus Lines Insurers|Section 981.063. Commissioner or Department Not Responsible for Determining Unauthorized Insurer's Financial Condition or Claims Practices

Sec. 981.063.  COMMISSIONER OR DEPARTMENT NOT RESPONSIBLE FOR DETERMINING UNAUTHORIZED INSURER'S FINANCIAL CONDITION OR CLAIMS PRACTICES.  This subchapter does not impose on the commissioner or department a responsibility to determine the actual financial condition or claims practices of an unauthorized insurer as described by Chapter 101.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.064 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. Eligibility Requirements for Surplus Lines Insurers|Section 981.064. Commissioner May Order Revocation of Contracts

Sec. 981.064.  COMMISSIONER MAY ORDER REVOCATION OF CONTRACTS.  The commissioner may order the revocation of an insurance contract issued by an eligible surplus lines insurer that does not meet the eligibility requirements of this subchapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.065 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. Eligibility Requirements for Surplus Lines Insurers|Section 981.065. Applicability to Contract Extension

Sec. 981.065.  APPLICABILITY TO CONTRACT EXTENSION.  This subchapter and Sections 981.101(b), 981.210, and 981.211 apply to an extension of an insurance contract beyond its original expiration date.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.066 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. Eligibility Requirements for Surplus Lines Insurers|Section 981.066. Uniform Standards

Sec. 981.066.  UNIFORM STANDARDS.  To issue surplus lines insurance in this state, an insurer must comply with all applicable nationwide uniform standards adopted by this state in accordance with 15 U.S.C. Section 8204.|Added by Acts 2013, 83rd Leg., R.S., Ch. 595 (S.B. 951), Sec. 8, eff. June 14, 2013.|
TX Ins Code § 981.071 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. -1. Domestic Surplus Lines Insurer|Section 981.071. Definition

Sec. 981.071.  DEFINITION.  In this subchapter, "domestic surplus lines insurer" means an insurance company designated as a domestic surplus lines insurer under Section 981.072.|Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.|
TX Ins Code § 981.072 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. -1. Domestic Surplus Lines Insurer|Section 981.072. Designation as Domestic Surplus Lines Insurer

Sec. 981.072.  DESIGNATION AS DOMESTIC SURPLUS LINES INSURER.  (a)  A property and casualty insurance company organized under Chapter 822 that has capital and surplus in an amount described by Section 981.057 may apply to the department in a form and manner prescribed by the commissioner for designation as a domestic surplus lines insurer.(b)  On approval of an application under Subsection (a), the commissioner shall designate an applicant as a domestic surplus lines insurer and issue to the applicant a domestic surplus lines insurer certificate.(c)  Notwithstanding Section 822.101, a domestic surplus lines insurer is not entitled to a certificate of authority to engage in the business of insurance in this state in the admitted market.|Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.|
TX Ins Code § 981.073 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. -1. Domestic Surplus Lines Insurer|Section 981.073. Applicability of Other Law; Conflicts

Sec. 981.073.  APPLICABILITY OF OTHER LAW; CONFLICTS.  (a)  Except as provided by Subsection (b), a domestic surplus lines insurer is subject to:(1)  this chapter; and(2)  all other insurance laws, including Title 4, applicable to a property and casualty insurance company organized under Chapter 822.(b)  A domestic surplus lines insurer is not subject to:(1)  Section 38.003;(2)  Chapter 462;(3)  Chapter 463;(4)  Chapter 501;(5)  Section 981.051;(6)  Section 981.101(b);(7)  Chapter 2007;(8)  Chapter 2301;(9)  Chapter 2251; and(10)  Chapter 1006, Transportation Code.(c)  To the extent that this subchapter conflicts with any other insurance law, this subchapter controls.|Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.Amended by: Acts 2019, 86th Leg., R.S., Ch. 594 (S.B. 604), Sec. 5.25, eff. September 1, 2019.|
TX Ins Code § 981.074 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. -1. Domestic Surplus Lines Insurer|Section 981.074. Authorized Business

Sec. 981.074.  AUTHORIZED BUSINESS.  (a)  A domestic surplus lines insurer may only insure a risk in this state if:(1)  the insurance is procured as eligible surplus lines insurance under this chapter; and(2)  the insurance is a kind of insurance the insurer is authorized to write under the insurer's articles of incorporation.(b)  A domestic surplus lines insurer may not issue:(1)  a policy in the admitted market; or(2)  a policy to satisfy the financial responsibility requirements of Chapter 601, Transportation Code, insurance requirements of Chapter 406, Labor Code, or requirements of any other law of this state mandating insurance coverage by an insurance company authorized to engage in the business of insurance in this state.|Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.|
TX Ins Code § 981.075 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. -1. Domestic Surplus Lines Insurer|Section 981.075. Taxes Imposed

Sec. 981.075.  TAXES IMPOSED.  (a)  The premium for a surplus lines policy written under this subchapter is subject to the premium tax, if applicable, imposed under Chapter 225.(b)  A  domestic surplus lines insurer is subject to an applicable maintenance tax as if the domestic surplus lines insurer were an authorized insurer under Subtitle C, Title 3.|Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.|
TX Ins Code § 981.076 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. -1. Domestic Surplus Lines Insurer|Section 981.076. Requirements for Domestic Surplus Lines Documents

Sec. 981.076.  REQUIREMENTS FOR DOMESTIC SURPLUS LINES DOCUMENTS.  (a)  In this section, "surplus lines document" has the meaning assigned by Section 981.101.(b)  A surplus lines document issued by a domestic surplus lines insurer must include a statement in the form and manner provided by commissioner rule.|Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.|
TX Ins Code § 981.077 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter B. -1. Domestic Surplus Lines Insurer|Section 981.077. Redomestication

Sec. 981.077.  REDOMESTICATION.  A foreign insurer may redomesticate to this state as a domestic surplus lines insurer as provided by Chapter 983 if the foreign insurer qualifies under Section 981.072.|Added by Acts 2017, 85th Leg., R.S., Ch. 854 (H.B. 2492), Sec. 5, eff. January 1, 2018.|
TX Ins Code § 981.101 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter C. Requirements and Procedures for Issuance of Surplus Lines Documents|Section 981.101. Requirements for Surplus Lines Documents

Sec. 981.101.  REQUIREMENTS FOR SURPLUS LINES DOCUMENTS.  (a)  In this section, "surplus lines document" means each new or renewal insurance contract, certificate, cover note, or other confirmation of insurance obtained and delivered as surplus line coverage under this chapter.(b)  A surplus lines document must state, in 11-point type, the following:This insurance contract is with an insurer not licensed to transact insurance in this state and is issued and delivered as surplus line coverage under the Texas insurance statutes.  The Texas Department of Insurance does not audit the finances or review the solvency of the surplus lines insurer providing this coverage, and the insurer is not a member of the property and casualty insurance guaranty association created under Chapter 462, Insurance Code.  Chapter 225, Insurance Code, requires payment of a __________ (insert appropriate tax rate) percent tax on gross premium.(c)  A surplus lines document must show:(1)  the description and location of the subject of the insurance;(2)  the coverage, conditions, and term of the insurance;(3)  the premium and rate charged, and premium taxes to be collected from the insured;(4)  the name and address of:(A)  the insured;(B)  the insurer;  and(C)  the insurance agent who obtained the surplus line coverage;  and(5)  if the direct risk is assumed by more than one insurer:(A)  the name and address of each insurer;  and(B)  the proportion of the entire direct risk assumed by each insurer.|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.128, eff. April 1, 2009.|
TX Ins Code § 981.102 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter C. Requirements and Procedures for Issuance of Surplus Lines Documents|Section 981.102. Limit on Use of Surplus Lines Policy or Contract Forms

Sec. 981.102.  LIMIT ON USE OF SURPLUS LINES POLICY OR CONTRACT FORMS.  A surplus lines insurance policy or contract form may not be used unless use of the form is:(1)  reasonably necessary for the principal purposes of the insurance coverage;  or(2)  not contrary to the purposes of this chapter regarding the reasonable protection of authorized insurers from unwarranted competition by unauthorized insurers.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.103 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter C. Requirements and Procedures for Issuance of Surplus Lines Documents|Section 981.103. Delivery to Insured of Surplus Lines Documents

Sec. 981.103.  DELIVERY TO INSURED OF SURPLUS LINES DOCUMENTS.  (a)  On placing new or renewal surplus lines coverage, a surplus lines agent shall promptly issue and deliver to the insured or to the insured's agent the following evidence of insurance:(1)  the policy issued by the insurer;  or(2)  if the policy is not available, a certificate, cover note, or other confirmation of insurance.(b)  If the policy is not available at the time of placement of the insurance, the surplus lines agent shall, on the insured's request and as soon as reasonably possible:(1)  obtain the policy from the insurer;  and(2)  deliver the policy to the insured to replace the certificate, cover note, or other confirmation of insurance previously issued.(c)  A surplus lines agent may not deliver the evidence of insurance described by Subsection (a), or purport to insure or represent that insurance will be or has been granted by an eligible surplus lines insurer, unless the agent:(1)  has prior written authority from the insurer for the insurance;  or(2)  has received information from the insurer in the regular course of business that:(A)  the insurance has been granted;  or(B)  an insurance policy providing the insurance actually has been issued by the insurer and delivered to the insured.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.104 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter C. Requirements and Procedures for Issuance of Surplus Lines Documents|Section 981.104. Delivery to Insured of Revised Surplus Lines Documents

Sec. 981.104.  DELIVERY TO INSURED OF REVISED SURPLUS LINES DOCUMENTS.  (a)  A surplus lines agent shall promptly deliver to the insured a substitute certificate, cover note, confirmation, or endorsement for the original document showing the current status of the coverage and the insurers responsible for that coverage if, after the delivery of the original document, a change is made:(1)  to the identity of the insurers;(2)  to the proportion of the direct risk assumed by the insurer as stated in the original document;  or(3)  in any other material respect as to the insurance coverage evidenced by the document.(b)  A change made under Subsection (a) may not result in coverage or an insurance contract that would violate this chapter or Chapter 225, if originally issued on that basis.|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.129, eff. April 1, 2009.|
TX Ins Code § 981.151 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter D. Surplus Lines Stamping Office|Section 981.151. Status as Nonprofit Association

Sec. 981.151.  STATUS AS NONPROFIT ASSOCIATION.  The Surplus Lines Stamping Office of Texas is a nonprofit association.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 981.152 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas|Chapter 981 - Surplus Lines Insurance|Subchapter D. Surplus Lines Stamping Office|Section 981.152. Board of Directors

Sec. 981.152.  BOARD OF DIRECTORS.  (a)  The board of directors of the stamping office exercises the powers of the office.(b)  The board consists of nine members appointed by the commissioner.  Four members must represent the public and have a minimum of three years of experience in purchasing commercial insurance.  A public representative may not:(1)  be an officer, director, or employee of an insurer, insurance agency, agent, broker, solicitor, or adjuster or any other business entity regulated by the department;(2)  be a person required to register under Chapter 305, Government Code;  or(3)  be related to a person described by Subdivision (1) or (2) within the second degree by affinity or consanguinity.(c)  A board member serves a term as established in the plan of operation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|