Tex. Insurance Code § 983.051
This is the official text of Tex. Insurance Code § 983.051, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 983.051.
Official statutory text
Sec. 983.051. REDOMESTICATION: FOREIGN TO DOMESTIC. (a) An insurer or health maintenance organization that is organized under the laws of another state and authorized to write insurance or provide a health care plan in this state may redomesticate to this state if:
(1) the entity amends or restates its articles of incorporation to comply with each requirement of this code relating to the organization and authorization of a domestic entity of the same type; and
(2) the commissioner approves the redomestication.
(b) An insurer or health maintenance organization that redomesticates under this section is:
(1) considered to be domiciled in this state; and
(2) entitled to a certificate of authority to engage in the business of insurance or the business of a health maintenance organization in this state as a domestic insurer or health maintenance organization, as applicable, without interruption of its authority to engage in business in this state.
(1) the entity amends or restates its articles of incorporation to comply with each requirement of this code relating to the organization and authorization of a domestic entity of the same type; and
(2) the commissioner approves the redomestication.
(b) An insurer or health maintenance organization that redomesticates under this section is:
(1) considered to be domiciled in this state; and
(2) entitled to a certificate of authority to engage in the business of insurance or the business of a health maintenance organization in this state as a domestic insurer or health maintenance organization, as applicable, without interruption of its authority to engage in business in this state.
Status: in_force · Read it on the official government site
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