Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 4. REGULATION OF SOLVENCY |
Subtitle B. RESERVES AND INVESTMENTS |
Chapter 423. TRANSACTIONS WITH MONEY AND OTHER ASSETS |
Subchapter B. TRANSACTIONS WITH MONEY |
Sec. 423.053. AUTHORITY TO DEPOSIT MONEY IN ACCOUNT OF REINSURER
Latest version.
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A reinsurance agreement between a domestic insurer and an affiliate, as described by Section 823.003, must specifically authorize the deposit of money from premiums to the account of the affiliate that assumes the reinsurance.
Added by Acts 2005, 79th Leg., Ch. 727 , Sec. 1, eff. April 1, 2007.