Tex. Insurance Code § 493.052
This is the official text of Tex. Insurance Code § 493.052, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 493.052. LIMITATION ON REINSURANCE OF ENTIRE OUTSTANDING BUSINESS.
Official statutory text
(a) An insurer may not reinsure the insurer's entire outstanding business in an assuming insurer unless the assuming insurer is authorized to engage in the business of insurance in this state.
(b) Before the date of reinsurance:
(1) the reinsurance contract must be submitted to the commissioner; and
(2) the commissioner must approve the contract as fully protecting the interests of all policyholders.
(b) Before the date of reinsurance:
(1) the reinsurance contract must be submitted to the commissioner; and
(2) the commissioner must approve the contract as fully protecting the interests of all policyholders.
Status: in_force · Read it on the official government site
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