Tex. Insurance Code § 823.403
This is the official text of Tex. Insurance Code § 823.403, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 823.403. MANAGEMENT OF CONTROLLED INSURER.
Official statutory text
(a) The control of an authorized insurer by another person does not relieve an officer or director of the insurer of any obligation or liability to which the officer or director is subject by law. The insurer shall be managed to assure the insurer's separate operating identity consistent with this code.
(b) This section does not preclude an authorized insurer from having a common management or joint use of personnel, property, or services with one or more other persons under an arrangement that meets the standards of Section 823.101(e).
(b) This section does not preclude an authorized insurer from having a common management or joint use of personnel, property, or services with one or more other persons under an arrangement that meets the standards of Section 823.101(e).
Status: in_force · Read it on the official government site
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