Tex. Insurance Code § 884.501
This is the official text of Tex. Insurance Code § 884.501, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 884.501. DIRECT REINSURANCE AGREEMENTS BETWEEN STIPULATED PREMIUM COMPANIES.
Official statutory text
(a) Stipulated premium companies organized under this chapter may enter into a total or partial direct reinsurance agreement if the company assuming the policies under the agreement is authorized to transact the kinds of insurance provided by those policies.
(b) Before a stipulated premium company may enter into a total direct reinsurance agreement:
(1) the company must submit the agreement to the department; and
(2) the department must approve the agreement as fully protecting the interests of all the holders of policies being assumed.
(c) A partial direct reinsurance agreement shall be filed with the department before the effective date of the agreement.
(b) Before a stipulated premium company may enter into a total direct reinsurance agreement:
(1) the company must submit the agreement to the department; and
(2) the department must approve the agreement as fully protecting the interests of all the holders of policies being assumed.
(c) A partial direct reinsurance agreement shall be filed with the department before the effective date of the agreement.
Status: in_force · Read it on the official government site
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