Sec. 4152.058. BOND OR ERRORS AND OMISSIONS POLICY

Latest version.

(a) The commissioner may require a reinsurance intermediary to:
(1) file a bond with the commissioner for the protection of all insurers represented; or
(2) maintain an errors and omissions policy.
(b) The issuer of the bond or the errors and omissions policy must be acceptable to the commissioner. The bond or the policy must be in an amount determined by the commissioner to be customary and adequate under the circumstances.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.

                    
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