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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES |
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Subtitle I. COMPANIES THAT ARE NOT ORGANIZED IN TEXAS |
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Chapter 981. SURPLUS LINES INSURANCE |
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Subchapter A. GENERAL PROVISIONS |
Sec. 981.002. DEFINITIONS
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In this chapter:
(1) "Eligible surplus lines insurer" means an insurer that is not an authorized insurer, but that is eligible under Subchapter B, in which surplus lines insurance is placed or may be placed under this chapter.
(1-a) "Managing underwriter" means a surplus lines agent or agency that exercises, pursuant to a written agreement with an eligible surplus lines insurer, underwriting authority for the eligible surplus lines insurer and that derives the agent or agency's business from a surplus lines agent.
(2) "Stamping office" means the Surplus Lines Stamping Office of Texas.
(3) "Surplus lines agent" means an agent licensed under Subchapter E to procure an insurance contract from a surplus lines insurer.
(4) "Surplus lines insurance" means insurance coverage:
(A) for a subject that is resident, located, or to be performed in this state; and
(B) that may be placed, in accordance with this chapter, with an eligible surplus lines insurer or the insurer's managing underwriter.