Tex. Insurance Code § 463.106
This is the official text of Tex. Insurance Code § 463.106, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 463.106. DELEGATION OF POWERS AND DUTIES.
Official statutory text
(a) The plan of operation may provide that, on approval of the board and the commissioner, a power or duty of the association is delegated to a corporation or other organization that:
(1) performs in two or more states functions similar to those of the association or the association's equivalent; and
(2) provides protection not substantially less favorable and effective than that provided by this chapter.
(b) A power or duty under Section 463.261(c) or Subchapter D, other than a duty under Section 463.161(c), may not be delegated under this section.
(c) The corporation or other organization to which a power or duty is delegated shall be:
(1) reimbursed for a payment made on behalf of the association; and
(2) paid for performing any other function of the association.
(1) performs in two or more states functions similar to those of the association or the association's equivalent; and
(2) provides protection not substantially less favorable and effective than that provided by this chapter.
(b) A power or duty under Section 463.261(c) or Subchapter D, other than a duty under Section 463.161(c), may not be delegated under this section.
(c) The corporation or other organization to which a power or duty is delegated shall be:
(1) reimbursed for a payment made on behalf of the association; and
(2) paid for performing any other function of the association.
Status: in_force · Read it on the official government site
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