Tex. Ins. Code Section 2201.054
Qualifications Regarding Authority of Certain Entities to Engage in Business


(a)

In this section, “completed operations liability” and “product liability” have the meanings assigned by the Product Liability Risk Retention Act of 1981 (15 U.S.C. Section 3901 et seq.) before the effective date of the Liability Risk Retention Act of 1986 (15 U.S.C. Section 3901 et seq.).

(b)

Notwithstanding Section 2201.053 (Status as Liability Insurer Required), a corporation or other limited liability association may be considered a risk retention group if:

(1)

before January 1, 1985, the corporation or association:

(A)

was chartered and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands; and

(B)

had certified to the commissioner, director, or superintendent of insurance of at least one state that it satisfied the capitalization requirements of that state; and

(2)

since January 1, 1985, the corporation or association has been continuously engaged in business solely to continue to provide insurance to cover completed operations liability or product liability.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.

Source: Section 2201.054 — Qualifications Regarding Authority of Certain Entities to Engage in Business, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­2201.­htm#2201.­054 (accessed Jun. 5, 2024).

2201.001
Purpose of Chapter
2201.002
General Definitions
2201.003
Liability Defined
2201.004
Agent License Required
2201.005
Exemption from Certain Requirements
2201.006
Authority of Commissioner
2201.007
Annual Report to Commissioner
2201.008
Rules
2201.051
General Qualifications of Risk Retention Group
2201.052
Name of Group
2201.053
Status as Liability Insurer Required
2201.054
Qualifications Regarding Authority of Certain Entities to Engage in Business
2201.055
Qualifications Regarding Membership
2201.056
Authorized Activities
2201.101
Eligibility Requirements
2201.102
Charter Application
2201.103
Plan of Operation
2201.104
Filing Fee
2201.151
Compliance Required
2201.152
Prerequisites to Offering Insurance
2201.153
Requirements for Continuing Business
2201.154
Filing Fees
2201.155
Payment of Taxes
2201.156
Examination of Financial Condition
2201.158
Injunctive Relief
2201.201
Scope of Authority
2201.203
Agent to Verify Authority
2201.204
Applicability of Certain Requirements for Liability Insurers
2201.205
Risk Retention Group Participation in Insolvency Guaranty Fund Prohibited
2201.206
Required Notice
2201.207
Prohibited Activities
2201.208
Injunctive Relief
2201.209
Penalties
2201.251
General Qualifications of Purchasing Group
2201.252
Determination of Location
2201.253
Limitations on Authority
2201.254
Application of State Law
2201.255
Notice to Commissioner
2201.256
Registration Requirement
2201.257
Payment of Premium Taxes
2201.258
Purchasing Group Participation in Insolvency Guaranty Fund Prohibited
2201.259
Required Notice

Accessed:
Jun. 5, 2024

§ 2201.054’s source at texas​.gov