reglab/statecodes huggingface dataset:
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4053 - Managing General Agents › Subchapter C. Powers and Duties of Managing General Agents › Section 4053.107. Financial Examination

Sec. 4053.107.  FINANCIAL EXAMINATION.  (a)  As the commissioner considers necessary, a managing general agent shall submit to an examination of the agent's financial condition and the agent's compliance with the laws of this state affecting the conduct of the agent's business.
(b)  The examination may be conducted by:
(1)  the commissioner;
(2)  one or more commissioned examiners;  or
(3)  a certified public accountant or other person or firm qualified to perform those examinations.
(c)  The managing general agent shall pay the examination expenses in an amount the commissioner certifies as just and reasonable.
(d)  A person with whom another state contracts to perform any examination initiated by the other state of a managing general agent licensed under this chapter shall register with and provide the following information to the department's chief examiner:
(1)  the person's name;
(2)  if the person is not an individual, the identity of each examiner or other person who will perform any part of the examination;
(3)  the name of the state that contracted with the person;
(4)  the identity of the managing general agent to be examined;
(5)  a description of each issue that the person has been contracted to examine;
(6)  an estimate of the examination costs to be charged to the managing general agent to be examined;
(7)  a copy of any contract between the person and the state regulatory body that initiated the examination and the letter authorizing the examination; and
(8)  a list of the previous examinations conducted on the same managing general agent on behalf of any state within the last three years.
(d-1)  On accepting a person's registration under Subsection (d), the department shall send written confirmation of the acceptance to:
(1)  the person;
(2)  the managing general agent to be examined; and
(3)  the state regulatory body that initiated the examination.
(e)  It is a violation of this code for a person to accept compensation from multiple states for the same examination, if doing so results in duplicative costs to the managing general agent being examined.  It is not a violation of this code for:
(1)  an examiner to conduct an examination of a managing general agent for the benefit of multiple states in a coordinated examination; and
(2)  the examiner to accept compensation from the states participating in the coordinated examination to reduce the examination costs to the managing general agent being examined.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1030 (H.B. 4359), Sec. 3, eff. June 19, 2009.
Acts 2011, 82nd Leg., R.S., Ch. 185 (S.B. 1229), Sec. 3, eff. May 28, 2011.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4053 - Managing General Agents › Subchapter C. Powers and Duties of Managing General Agents › Section 4053.108. Required Notices to Department

Sec. 4053.108.  REQUIRED NOTICES TO DEPARTMENT.  (a)  On forms prescribed by the department, a managing general agent shall notify the department not later than the 30th day after the date any of the following occurs:
(1)  balances due to an insurer for more than 90 days exceed:
(A)  $1 million;  or
(B)  10 percent of the insurer's policyholder surplus, as reported in the annual statement filed with the department;
(2)  balances due for more than 60 days from a property and casualty agent or managing general agent appointed by or reporting to the managing general agent exceed $500,000;
(3)  authority to settle claims for an insurer is withdrawn;
(4)  money held for an insurer for losses is greater than an amount that is $100,000 more than the amount necessary to pay the losses and loss adjustment expenses expected to be paid on the insurer's behalf within the next 60-day period;  or
(5)  the contract required under Section 4053.102 is canceled or terminated.
(b)  Notwithstanding the time limitation imposed by Subsection (a), the requirement to file under Subsections (a)(1), (2), and (4) may be met with a single annual report if:
(1)  the managing general agent routinely operates above the limits established by those subsections;  and
(2)  the department verifies that fact in accordance with rules adopted by the commissioner.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4053 - Managing General Agents › Subchapter C. Powers and Duties of Managing General Agents › Section 4053.109. Reinsurance

Sec. 4053.109.  REINSURANCE.  (a)  A managing general agent may not knowingly cede, arrange, facilitate, or bind an insurer to reinsurance.
(b)  Notwithstanding Subsection (a), a managing general agent may bind a facultative reinsurance contract in accordance with an obligatory facultative agreement if the contract with the insurer contains reinsurance underwriting guidelines including, for both assumed and ceded reinsurance:
(1)  a list of reinsurers with whom the automatic agreements are in effect;
(2)  the coverages and amounts or percentages that may be reinsured;  and
(3)  commission schedules.
(c)  A managing general agent may not commit an insurer to participate in insurance or reinsurance syndicates.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4053 - Managing General Agents › Subchapter C. Powers and Duties of Managing General Agents › Section 4053.110. Redemption of Corporate Shares

Sec. 4053.110.  REDEMPTION OF CORPORATE SHARES.  A corporation acting as a managing general agent may redeem the shares of a shareholder or a deceased shareholder:
(1)  on terms agreed on by the board of directors and the shareholder or the shareholder's personal representative;  or
(2)  at a price and on terms provided in the articles of incorporation, the bylaws, or an existing contract entered into between the shareholders.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4053 - Managing General Agents › Subchapter D. Enforcement › Section 4053.151. Disciplinary Action

Sec. 4053.151.  DISCIPLINARY ACTION.  A person, firm, or corporation that violates this chapter or a rule or order adopted under this title, including this chapter, is subject to:
(1)  Subchapters B and C, Chapter 4005;  and
(2)  Chapter 82.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4053 - Managing General Agents › Subchapter D. Enforcement › Section 4053.152. Guaranty Fund Reimbursement

Sec. 4053.152.  GUARANTY FUND REIMBURSEMENT.  (a)  If a court finds by a final nonappealable judgment that a violation of this chapter by a managing general agent contributes materially to the insolvency of an insurer under which the agent held an appointment, the agent shall reimburse the appropriate guaranty fund for money paid to cover losses of the insolvent insurer in an amount equal to all payments made from that guaranty fund in excess of:
(1)  gross earned premiums and investment income earned on those premiums;  and
(2)  loss reserves for that business.
(b)  The reimbursement made under this section shall be used for losses, loss adjustments, and administrative expenses on business placed by the managing general agent.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter A. General Provisions › Section 4054.001. Applicability of Chapter

Sec. 4054.001.  APPLICABILITY OF CHAPTER.  (a)  This chapter applies to each agent of an insurer authorized to provide life, accident, and health insurance coverage in this state.
(b)  This chapter applies to each person who:
(1)  performs the acts of an agent, as described by Section 4001.051, whether through an oral, written, electronic, or other form of communication by soliciting, negotiating, procuring, or collecting a premium on an insurance or annuity contract offered by any type of insurer authorized to engage in the business of life, accident, and health insurance in this state;  or
(2)  represents or purports to represent a health maintenance organization in soliciting, negotiating, procuring, or effecting membership in the health maintenance organization.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter B. General Life, Accident, and Health License › Section 4054.051. License Required

Sec. 4054.051.  LICENSE REQUIRED.  Except as provided by Subchapter G, a person is required to hold a general life, accident, and health license if the person acts as:
(1)  an agent who represents a health maintenance organization;
(2)  an industrial life insurance agent for an insurer that writes only weekly premium life insurance on a debit basis under Chapter 1151;
(3)  an agent who writes life, accident, and health insurance for a life insurance company;
(4)  an agent who writes only accident and health insurance;
(5)  an agent who writes fixed or variable annuity contracts or variable life contracts;
(6)  an agent who writes for a stipulated premium company:
(A)  only life insurance in excess of $25,000 on any one life;
(B)  only accident and health insurance; or
(C)  both kinds of insurance described by Paragraphs (A) and (B);
(7)  an agent who writes life, accident, and health insurance for any type of authorized life insurance company that is domiciled in this state, including a legal reserve life insurance company, and who represents the company:
(A)  in a foreign country or territory; and
(B)  on a United States military installation or with United States military personnel;
(8)  an agent who writes life, accident, and health insurance for a fraternal benefit society except as provided by Section 885.352; or
(9)  an agent who writes any other kind of insurance as required by the commissioner for the protection of the insurance consumers of this state.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 2.27, eff. September 1, 2007.
Acts 2009, 81st Leg., R.S., Ch. 1309 (H.B. 2570), Sec. 7, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter B. General Life, Accident, and Health License › Section 4054.052. Combination Life Insurance Agent

Sec. 4054.052.  COMBINATION LIFE INSURANCE AGENT.  (a)  In this section, a "combination company" means an insurer that writes weekly premium life insurance or monthly ordinary life insurance on a debit basis.
(b)  A person may not act as a combination life insurance agent for a combination company unless the person holds a general life, accident, and health license or a life agent license.
(c)  A combination company and a combination life insurance agent may also write ordinary life insurance contracts.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 2.28, eff. September 1, 2007.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter B. General Life, Accident, and Health License › Section 4054.053. Authority to Write Additional Lines

Sec. 4054.053.  AUTHORITY TO WRITE ADDITIONAL LINES.  A person who holds a general life, accident, and health license may, without obtaining an additional license, write the kinds of insurance contracts described by:
(1)  Subchapter C, D, or E;  or
(2)  Chapter 4055.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter C. Limited Life, Accident, and Health License › Section 4054.101. License Required

Sec. 4054.101.  LICENSE REQUIRED.  Except as provided by Section 4054.053, an agent is required to hold a limited life, accident, and health license if the agent writes:
(1)  a policy or rider to a policy that provides only:
(A)  lump-sum cash benefits in the event of accidental death or dismemberment;  or
(B)  ambulance expense benefits in the event of accident or sickness;
(2)  a prepaid legal services contract under Article 5.13-1 or Chapter 961;
(3)  credit insurance, except as otherwise provided by Chapter 4055;  or
(4)  any other kind of insurance, if holding a limited life, accident, and health license to write that kind of insurance is determined necessary by the commissioner for the protection of the insurance consumers of this state.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter C. Limited Life, Accident, and Health License › Section 4054.102. Designation of Kinds of Insurance

Sec. 4054.102.  DESIGNATION OF KINDS OF INSURANCE.  A person who holds a limited life, accident, and health license may write only the kind of insurance designated on the license.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter C. Limited Life, Accident, and Health License › Section 4054.103. Temporary License

Sec. 4054.103.  TEMPORARY LICENSE.  An applicant for a limited life, accident, and health license is eligible for a temporary license under Subchapter D, Chapter 4001.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.151. Funeral Prearrangement Life Insurance Agent

Sec. 4054.151.  FUNERAL PREARRANGEMENT LIFE INSURANCE AGENT.  A funeral prearrangement life insurance agent is a life insurance agent who, subject to the limitations of this subchapter, writes only life insurance policies and fixed annuity contracts to secure the delivery of funeral services and merchandise under prepaid funeral contracts regulated by the Texas Department of Banking under Chapter 154, Finance Code.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.152. License Issuance

Sec. 4054.152.  LICENSE ISSUANCE.  The department shall issue a license to an individual applicant to act as a funeral prearrangement life insurance agent on receipt of certification from an insurer authorized to write life insurance policies and fixed annuity contracts in this state that the applicant has:
(1)  completed a course of study and instruction in compliance with this subchapter;  and
(2)  passed without aid a written examination administered by the insurer.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.153. Course

Sec. 4054.153.  COURSE.  (a)  To be eligible to receive a license under this subchapter, an applicant must complete a course of study and instruction offered by an insurer under this section on life insurance policies and fixed annuity contracts.
(b)  The course of study and instruction must:
(1)  be at least five hours in duration;  and
(2)  include instruction on:
(A)  the life insurance policies and fixed annuity contracts to be sold;  and
(B)  the laws relating to funeral prearrangement.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.154. Examination

Sec. 4054.154.  EXAMINATION.  (a)  The commissioner shall prescribe a uniform examination for applicants that fairly tests knowledge of the information contained in the course under Section 4054.153.
(b)  The department shall authorize an insurer to administer the examination as provided by this section after approval by the department of a complete outline and explanation of the course and the manner of conducting the examination.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.155. Investigation by Department

Sec. 4054.155.  INVESTIGATION BY DEPARTMENT.  The department may investigate as necessary the manner of instruction and the examination administered by an insurer under this subchapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.156. Withdrawal of Insurer's Authority

Sec. 4054.156.  WITHDRAWAL OF INSURER'S AUTHORITY.  The department may withdraw from an insurer the authority under this subchapter to offer instruction and administer an examination.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.157. Limit on Agent's Authority

Sec. 4054.157.  LIMIT ON AGENT'S AUTHORITY.  Except as provided by Section 154.2021, Finance Code, a funeral prearrangement life insurance agent licensed under this subchapter may not write any coverage or combination of coverages with an initial guaranteed death benefit on any life that exceeds the total cost of the prepaid funeral benefits purchased under the prepaid funeral contract.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 615 (S.B. 579), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.158. Revocation; Notification

Sec. 4054.158.  REVOCATION;  NOTIFICATION.  (a)  A license issued under this subchapter to act as an agent for an insurer is revoked if the license holder ceases to act as an agent for the insurer.
(b)  Not later than the 15th day after the date on which the license holder ceases to act as an agent for an insurer, the insurer or agent shall send written notification to the department.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.159. Continuing Education Exemption

Sec. 4054.159.  CONTINUING EDUCATION EXEMPTION.  (a)  Notwithstanding any other provision of this code, a funeral home employee or other person who holds a funeral prearrangement life insurance agent license and who writes only life insurance policies and fixed annuity contracts to secure the delivery of funeral services and merchandise under prepaid funeral contracts regulated by the Texas Department of Banking under Chapter 154, Finance Code, is not required to comply with any continuing education requirements to maintain the license, except that the appointing insurer must educate its appointed agents about any new products sold by the agent to fund prepaid funeral contracts.
(b)  A license holder to whom this section applies may be appointed by more than one insurer.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter D. Funeral Prearrangement Life Insurance License › Section 4054.160. Applicability of Limited License Laws

Sec. 4054.160.  APPLICABILITY OF LIMITED LICENSE LAWS.  Except as specifically provided by this subchapter, the provisions of this title that apply to the holder of a limited license apply to the holder of a license issued under this subchapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter E. Life Insurance Not › Section 4054.201. License Issuance; Exception

Sec. 4054.201.  LICENSE ISSUANCE;  EXCEPTION.  (a)  The department shall issue a license to an individual applicant to act as an agent who writes only life insurance policies in an amount that does not exceed $25,000 on any one life on receipt of certification from a stipulated premium company, a statewide mutual assessment company, a local mutual aid association, or a local mutual burial association, that the applicant has:
(1)  completed a course of study and instruction in compliance with this subchapter; and
(2)  passed without aid a written examination administered by the insurer.
(b)  A license is not required under this subchapter for an agent who, in the preceding calendar year, wrote policies that generated, in the aggregate, less than $20,000 in direct premium.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1309 (H.B. 2570), Sec. 9, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter E. Life Insurance Not › Section 4054.202. Course

Sec. 4054.202.  COURSE.  (a)  To be eligible to receive a license under this subchapter, an applicant must complete a course of study and instruction offered by an insurer under this section on life insurance and fixed annuities.
(b)  The course of study and instruction must:
(1)  be at least five hours in duration;  and
(2)  include instruction on:
(A)  the policies to be sold;  and
(B)  the laws relating to the regulation of insurance in this state.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter E. Life Insurance Not › Section 4054.203. Examination

Sec. 4054.203.  EXAMINATION.  (a)  The commissioner shall prescribe a uniform examination for applicants that fairly tests knowledge of the information contained in the course provided under Section 4054.202.
(b)  The department shall authorize an insurer described by Section 4054.201 to administer the examination as provided by this section after approval by the department of a complete outline and explanation of the course and the manner of conducting the examination.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter E. Life Insurance Not › Section 4054.204. Investigation by Department

Sec. 4054.204.  INVESTIGATION BY DEPARTMENT.  The department may investigate as necessary the manner of instruction and the examination administered by an insurer under this subchapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter E. Life Insurance Not › Section 4054.205. Withdrawal of Insurer's Authority

Sec. 4054.205.  WITHDRAWAL OF INSURER'S AUTHORITY.  The department may withdraw from an insurer the authority under this subchapter to offer instruction and administer an examination.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter E. Life Insurance Not › Section 4054.206. Limit on Agent's Authority

Sec. 4054.206.  LIMIT ON AGENT'S AUTHORITY.  An insurance agent licensed under this subchapter may not write any coverage or combination of coverages with an initial guaranteed death benefit that exceeds $25,000 on any life.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1309 (H.B. 2570), Sec. 10, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter E. Life Insurance Not › Section 4054.207. Continuing Education Exemption

Sec. 4054.207.  CONTINUING EDUCATION EXEMPTION.  (a)  Notwithstanding any other provision of this code, a person who holds a license under this subchapter and who writes only life insurance policies and fixed annuity contracts to secure the delivery of funeral services and merchandise under prepaid funeral contracts regulated by the Texas Department of Banking under Chapter 154, Finance Code, is not required to comply with any continuing education requirements to maintain the license, except that the appointing insurer must educate its appointed agents about any new products sold by the agent to fund prepaid funeral contracts.
(b)  A license holder to whom this section applies may be appointed by more than one insurer.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter E. Life Insurance Not › Section 4054.208. Applicability of Limited License Laws

Sec. 4054.208.  APPLICABILITY OF LIMITED LICENSE LAWS.  Except as specifically provided by this subchapter, the provisions of this title that apply to the holder of a limited license apply to the holder of a license issued under this subchapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter F. Renewal or Service Commissions to Agents of Life Insurance Companies Discontinuing Business in State › Section 4054.251. Insurance Company Liability for Payment of Commissions

Sec. 4054.251.  INSURANCE COMPANY LIABILITY FOR PAYMENT OF COMMISSIONS.  A life insurance company that discontinues the business of issuing life insurance policies on the lives of residents of this state remains liable for the payment of renewal or service commissions on life insurance policies previously written by the company under the terms of the company's contracts previously made with agents residing in this state.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter F. Renewal or Service Commissions to Agents of Life Insurance Companies Discontinuing Business in State › Section 4054.252. Monthly and Quarterly Statements

Sec. 4054.252.  MONTHLY AND QUARTERLY STATEMENTS.  (a)  A life insurance company shall provide to each agent who may be entitled to receive renewal or service commissions from the company under Section 4054.251:
(1)  a monthly statement that shows the policies written by the agent for the company that terminated during the month for which the statement is made;  and
(2)  at least quarterly, a detailed statement of all policies written by the agent for the company on the lives of residents of this state that shows:
(A)  the policies in force;  and
(B)  the policies that have terminated, with the reason for the termination.
(b)  A life insurance company is not required to provide an agent with a statement under this section after the expiration of the period during which renewal or service commissions are payable as to all of the policies written by the agent for the company.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter F. Renewal or Service Commissions to Agents of Life Insurance Companies Discontinuing Business in State › Section 4054.253. Presumption in Lawsuit

Sec. 4054.253.  PRESUMPTION IN LAWSUIT.  In a suit against a life insurance company for the recovery of a renewal or service commission under this subchapter, a presumption exists that each policy written by the company on the life of a resident of this state by the agent bringing the suit continues in effect unless the defendant proves the contrary by competent evidence.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter G. Life Agent › Section 4054.301. License Required

Sec. 4054.301.  LICENSE REQUIRED.  (a)  Except as provided by Subsection (b), a person is required to hold a life agent license if the person does not hold a general life, accident, and health license under Subchapter B and the person acts as:
(1)  an agent who writes insurance coverage on human lives, including endowment benefits and annuities, benefits in the event of death or dismemberment by accident, and benefits for disability income;
(2)  an industrial life insurance agent for an insurer that writes only weekly premium life insurance on a debit basis under Chapter 1151;
(3)  an agent who writes fixed or variable annuity contracts or variable life contracts;
(4)  an agent who writes for a stipulated premium company only life insurance in excess of $25,000 on any one life; or
(5)  an agent who writes any other kind of insurance as required by the commissioner for the protection of the insurance consumers of this state.
(b)  A person who holds a limited license under Subchapter C and who engages in the business of insurance only within the scope of that license is not required to hold a life agent license.  A person who holds a life agent license may write the insurance described by that subchapter.
(c)  A person who holds a funeral prearrangement life insurance license under Subchapter D and who engages in the business of insurance only within the scope of that license is not required to hold a life agent license.  A person who holds a life agent license may write the insurance described by that subchapter.
(d)  A person who holds a license to write life insurance not exceeding $25,000 under Subchapter E and who engages in the business of insurance only within the scope of that license is not required to hold a life agent license.  A person who holds a life agent license may write the insurance described by that subchapter.
(e)  This subchapter does not apply to a person who holds a specialty license under Chapter 4055 and who engages in the business of insurance only within the scope of the specialty license.
Added by Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 1.02, eff. September 1, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1309 (H.B. 2570), Sec. 11, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter G. Life Agent › Section 4054.302. Authority to Write Specified Coverages

Sec. 4054.302.  AUTHORITY TO WRITE SPECIFIED COVERAGES.  A person who holds a license under this subchapter may write only insurance described by Sections 4054.301(a)-(d).
Added by Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 1.02, eff. September 1, 2007.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter G. Life Agent › Section 4054.303. Applicability of Certain Requirements

Sec. 4054.303.  APPLICABILITY OF CERTAIN REQUIREMENTS.  Except as otherwise provided by this code, the provisions of this title that apply to the holder of a general life, accident, and health license apply to the holder of a license issued under this subchapter.
Added by Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 1.02, eff. September 1, 2007.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter G. Life Agent › Section 4054.304. Fees

Sec. 4054.304. FEES.  Section 4001.006 applies to all fees collected under this subchapter.
Added by Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263), Sec. 1.02, eff. September 1, 2007.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.351. Certification Program

Sec. 4054.351.  CERTIFICATION PROGRAM.  The department shall establish a voluntary specialty certification program for individuals who market small employer health benefit plans in accordance with Chapter 1501.
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.352. Qualifications

Sec. 4054.352.  QUALIFICATIONS.  (a)  To be eligible to receive a specialty certification under this subchapter, an individual must:
(1)  hold a general life, accident, and health license under this chapter;
(2)  satisfy the requirements of this subchapter; and
(3)  submit evidence of completion of training to the department in the manner prescribed by the commissioner.
(b)  To maintain a specialty certification under this subchapter, an individual must continue to hold a general life, accident, and health license under this chapter.
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.353. Initial Training

Sec. 4054.353.  INITIAL TRAINING.  (a)  To be certified under this subchapter, an individual must first complete training in the law, including department rules, applicable to small employer health benefit plans offered under Chapter 1501.
(b)  An individual seeking specialty certification under this subchapter must complete a course applicable to small employer health benefit plans under Chapter 1501, as prescribed and approved by the commissioner.  Except as provided by Subsection (c), an individual is not eligible for the specialty certification unless, on completion of the course, it is certified to the commissioner as required by the department that the individual has:
(1)  completed the course; and
(2)  passed an examination testing the individual's knowledge and qualification.
(c)  An individual seeking specialty certification under this subchapter is not required to complete the course and examination required by Subsection (b) if the individual demonstrates to the department, in the manner prescribed by the department, that the individual holds a designation as:
(1)  a Registered Health Underwriter (RHU);
(2)  a Certified Employee Benefit Specialist (CEBS); or
(3)  a Registered Employee Benefits Consultant (REBC).
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.354. Renewal

Sec. 4054.354.  RENEWAL.  To renew a specialty certification under this subchapter, the individual must complete five hours of continuing education applicable to small employer health benefit plans during the two-year certification period.
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.355. Satisfaction of Continuing Education Requirements

Sec. 4054.355.  SATISFACTION OF CONTINUING EDUCATION REQUIREMENTS.  Each hour of education completed in accordance with this subchapter to obtain or renew a specialty license may be used to satisfy an hour of a continuing education requirement otherwise applicable to the agent under this title.
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.356. Offer of Services to All Group Sizes

Sec. 4054.356.  OFFER OF SERVICES TO ALL GROUP SIZES.  To hold a specialty certification under this subchapter, an individual must agree to market small employer health benefit plans to small employers that satisfy the requirements of Chapter 1501 without regard to the number of employees to be covered under the plan.
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.357. Advertising

Sec. 4054.357.  ADVERTISING.  An individual who holds a specialty certification may advertise, in the manner specified by department rule, that the individual is specially trained to serve small employers.
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.358. List Maintained by Department; Website

Sec. 4054.358.  LIST MAINTAINED BY DEPARTMENT; WEBSITE.  The department shall maintain a list of all individuals who hold a specialty certification under this subchapter, together with the business address and phone number of each individual and a general description of the individual's service area.  The department shall publish the list on the department website.
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4054 - Life, Accident, and Health Agents › Subchapter H. Specialty Certification for Agents Serving Certain Employer Groups › Section 4054.359. Rules

Sec. 4054.359.  RULES.  The commissioner, in accordance with Section 36.001, may adopt rules as necessary to administer this subchapter.
Added by Acts 2009, 81st Leg., R.S., Ch. 1338 (S.B. 79), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.001. Definition

Sec. 4055.001.  DEFINITION.  In this chapter, "specialty license holder" means a person who holds a license issued under this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.002. Applicability of Chapter to Certain Agents

Sec. 4055.002.  APPLICABILITY OF CHAPTER TO CERTAIN AGENTS.  (a)  A person who holds a general property and casualty license issued under Chapter 4051 or a general life, accident, and health license issued under Chapter 4054 or who holds a substantially equivalent license under this code, as determined by the commissioner, is not required to obtain a specialty license.
(b)  A person described by Subsection (a) is subject to the other requirements of this chapter in the solicitation, sale, or delivery of an insurance product that is subject to this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.003. Rules

Sec. 4055.003.  RULES.  The commissioner may adopt rules necessary to implement this chapter and to meet the minimum requirements of federal law, including regulations.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.004. Application

Sec. 4055.004.  APPLICATION.  To obtain a specialty license an applicant must:
(1)  submit to the commissioner:
(A)  a written application:
(i)  signed by the applicant;
(ii)  on a form and supplements to the form prescribed by the commissioner;  and
(iii)  containing the information prescribed by the commissioner;
(B)  a certification by an insurer authorized to engage in business in this state:
(i)  signed and sworn to by an officer of the insurer;
(ii)  stating that the insurer is satisfied that the applicant is trustworthy and competent to act as the insurer's agent for a limited purpose authorized by this chapter;  and
(iii)  stating that if the specialty license applied for is issued by the department the insurer will appoint the applicant to act as an agent for a kind of insurance that is subject to this chapter;  and
(C)  a nonrefundable license fee set by the department in an amount necessary to administer this chapter;  and
(2)  comply with the other requirements of this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.005. License Issuance

Sec. 4055.005.  LICENSE ISSUANCE.  The commissioner may issue a specialty license to an applicant who complies with Section 4055.004 and the other requirements of this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.006. Examination and Continuing Education Not Required

Sec. 4055.006.  EXAMINATION AND CONTINUING EDUCATION NOT REQUIRED.  (a)  An examination is not required for issuance of a specialty license.
(b)  A person is not required to comply with continuing education requirements to hold a specialty license.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.007. Appointment as Agent by Insurer

Sec. 4055.007.  APPOINTMENT AS AGENT BY INSURER.  An insurer that appoints an agent under this chapter shall:
(1)  submit a certification of the appointment signed by an officer of the insurer;  and
(2)  affirm that the insurer is satisfied that the specialty license holder is trustworthy and competent to act as an agent on behalf of the insurer.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.008. General Powers and Duties

Sec. 4055.008.  GENERAL POWERS AND DUTIES.  (a)  A specialty license holder may act as an agent for the kinds of insurance that are subject to this chapter for any insurer authorized to engage in the business of those kinds of insurance in this state.
(b)  Except as otherwise provided by this chapter, a specialty license holder acting under this chapter shall comply with this title.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.009. Certain Representations Prohibited

Sec. 4055.009.  CERTAIN REPRESENTATIONS PROHIBITED.  A specialty license holder may not advertise, represent, or otherwise hold out the license holder or an employee of the license holder as an agent licensed under another chapter unless the entity or individual holds the applicable license.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
2023 Texas Statutes › Insurance Code › Title 13 - Regulation of Professionals › Subtitle B - Agents › Chapter 4055 - Specialty Agents › Subchapter A. General Provisions › Section 4055.010. Treatment of Certain Premiums

Sec. 4055.010.  TREATMENT OF CERTAIN PREMIUMS.  Notwithstanding any other provision of this title or any rule adopted by the commissioner, a specialty license holder is not required to treat as money received in a fiduciary capacity premiums collected from a consumer who purchases insurance coverage when completing a consumer transaction associated with the coverage if:
(1)  the insurer represented by the license holder has consented in writing, signed by an officer of the insurer, that premiums are not required to be segregated from money received by the license holder because of the consumer transaction associated with the insurance coverage;  and
(2)  the charges for insurance coverage are itemized but not billed to the consumer separately from the charges for the associated consumer transaction.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.