Texas Administrative Code (Last Updated: March 27,2024) |
TITLE 28. INSURANCE |
PART 1. TEXAS DEPARTMENT OF INSURANCE |
CHAPTER 15. SURPLUS LINES INSURANCE |
SUBCHAPTER A. GENERAL PROVISIONS |
SECTION 15.3. Regulation of Policies
Latest version.
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A surplus lines insurance policy is subject to Texas regulation if the insured's home state is Texas. Under Insurance Code §981.002(5), an insured's home state is the insured's:
(1) principal place of business, which is the location from which the officers of an insured that is not an individual direct, control, and coordinate the insured's activities; generally, the insured's main headquarters; or (2) principal residence, which is the state where the insured who is an individual resides for the greatest number of days during a calendar year. Source Note: The provisions of this §15.3 adopted to be effective December 30, 2018, 43 TexReg 8455