SECTION 7.603. Prohibition against Reinsurance with Assuming Insurers not Authorized to do the Business of Insurance in Texas

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Notwithstanding any other section in this subchapter, an insurer operating under Insurance Code §841.204 having less than the minimum capital and surplus required for the formation of new companies under Insurance Code §841.054 is prohibited from ceding an insurance risk of loss or part of an insurance risk of loss with any assuming insurer not authorized to do the business of insurance in Texas.

Source Note: The provisions of this §7.603 adopted to be effective August 16, 1990, 15 TexReg 4435; amended to be effective June 19, 2018, 43 TexReg 3888

                    
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