Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 4. REGULATION OF SOLVENCY |
Subtitle D. GUARANTY ASSOCIATIONS |
Chapter 463. TEXAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION |
Subchapter D. ASSESSMENTS |
Sec. 463.162. ASSIGNMENT OR TRANSFER OF CREDIT
Latest version.
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(a) A member insurer may assign or transfer a credit against premium tax to another member insurer if:
(1) an acquisition, merger, or total assumption of reinsurance occurs between the insurers; or
(2) the commissioner by order approves the assignment or transfer.
(b) Not later than the later of November 1 or the 60th day after the date of the assignment or transfer, each member insurer shall:
(1) report the assignment or transfer to the comptroller on a form the comptroller prescribes; and
(2) include with the report any documents from the commissioner that show approval of the assignment or transfer.
Added by Acts 2005, 79th Leg., Ch. 727 , Sec. 1, eff. April 1, 2007.