Tex. Insurance Code § 884.505
This is the official text of Tex. Insurance Code § 884.505, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 884.505. EFFECT OF TOTAL DIRECT REINSURANCE AGREEMENT.
Official statutory text
(a) A stipulated premium company that enters into a total direct reinsurance agreement under Section 884.501 or 884.502 under which it is the ceding company shall promptly surrender its certificate of authority to the department.
(b) The stipulated premium company's shareholders and board of directors shall effect the company's dissolution.
(b) The stipulated premium company's shareholders and board of directors shall effect the company's dissolution.
Status: in_force · Read it on the official government site
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