Tex. Insurance Code § 424.109
This is the official text of Tex. Insurance Code § 424.109, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 424.109. DESIGNATION OF POOL MANAGER; QUALIFICATIONS.
Official statutory text
(a) The pooling agreement for an investment pool must designate a pool manager.
(b) The pool manager must be organized under the laws of the United States or a state and must be:
(1) the investing insurer, an affiliated insurer, or a business entity affiliated with the insurer;
(2) a qualified bank;
(3) a business entity registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), as amended;
(4) the attorney-in-fact of a reciprocal or interinsurance exchange; or
(5) the United States manager or an affiliate or subsidiary of the United States manager of a United States branch of an alien insurer.
(b) The pool manager must be organized under the laws of the United States or a state and must be:
(1) the investing insurer, an affiliated insurer, or a business entity affiliated with the insurer;
(2) a qualified bank;
(3) a business entity registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), as amended;
(4) the attorney-in-fact of a reciprocal or interinsurance exchange; or
(5) the United States manager or an affiliate or subsidiary of the United States manager of a United States branch of an alien insurer.
Status: in_force · Read it on the official government site
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