Tex. Insurance Code § 941.004
This is the official text of Tex. Insurance Code § 941.004, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 941.004. WITHDRAWAL FROM THE BUSINESS OF INSURANCE.
Official statutory text
(a) A Lloyd's plan may withdraw from the business of insurance only if the department determines that adequate provision has been made, through reinsurance or other means, for:
(1) payment of all unadjusted losses of the Lloyd's plan; and
(2) reinsurance of all outstanding risks in favor of residents of this state or covering property located in this state.
(b) On compliance with the requirements of Subsection (a):
(1) any bond of the attorney in fact shall be released; and
(2) the department shall release to the underwriters any net assets over which the department has joint control.
(1) payment of all unadjusted losses of the Lloyd's plan; and
(2) reinsurance of all outstanding risks in favor of residents of this state or covering property located in this state.
(b) On compliance with the requirements of Subsection (a):
(1) any bond of the attorney in fact shall be released; and
(2) the department shall release to the underwriters any net assets over which the department has joint control.
Status: in_force · Read it on the official government site
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