Tex.
Ins. Code Section 884.002
Applicability of Other Law to Company
(a)
Except as expressly provided by this code, a provision of this code, other than this chapter, does not apply to a stipulated premium company organized under this chapter.(b)
A law enacted after August 28, 1961, does not apply to a stipulated premium company unless stipulated premium companies are expressly designated in the law.(c)
The following provisions of this code apply to a stipulated premium company:(1)
Article 21.47;(2)
Section 38.001 (Inquiries);(3)
Chapter 86 (Revocation or Modification of Certificate of Authority; Authority to Bring Certain Actions);(4)
Subchapter A (Definitions), Chapter 401 (Audits and Examinations);(5)
Sections 401.051 (Duty to Examine Carriers), 401.052 (Frequency of Examination), 401.054-401.062, 401.151 (Expenses of Examination of Domestic Insurer), 401.152 (Expenses of Examination of Other Insurers), 401.155 (Additional Assessments), and 401.156 (Deposit and Use of Assessment and Fee);(6)
Sections 403.001 (Limitation on Dividends), 403.052 (Estimate of Profits of Certain Insurers), and 403.102 (Penalties for Certain Insurers);(7)
Subchapter A (Definition), Chapter 404 (Financial Condition);(8)
Section 421.001 (Reserves Required);(9)
Subchapter D (Definition), Chapter 425 (Reserves and Investments for Life Insurance);(10)
Chapter 443 (Insurer Receivership Act);(11)
Chapter 493 (Authorized Reinsurance; Credit and Accounting), other than Section 493.051 (Reinsurance Authorized)(b);(12)
Chapter 541 (Unfair Methods of Competition and Unfair or Deceptive Acts or Practices);(13)
Sections 801.001-801.002;(14)
Sections 801.051-801.055;(15)
Section 801.057 (Failure to File Annual Statement: Ground for Revocation or Suspension);(16)
Sections 801.101-801.102;(17)
Subchapter A (Applicability of Subchapter), Chapter 821 (General Provisions);(18)
Chapter 824 (Merger and Consolidation of Stock Insurance Corporations);(19)
Chapter 828 (Purchase of Stock for Total Assumption Reinsurance);(20)
Section 841.251 (Evidence of Expenditures);(21)
Section 841.259 (Activities of Directors and Officers);(22)
Section 841.261 (Causes of Action);(23)
Section 841.703 (Certificate of Authority Void on Failure to Satisfy Judgment); and(24)
Chapter 4152 (Reinsurance Intermediaries).(d)
The Securities Act (Title 12, Government Code) applies to a stipulated premium company.(e)
The Texas Business Corporation Act applies to a stipulated premium company to the extent that law is not inconsistent with an insurance law applicable to a stipulated premium company. The department shall perform a duty imposed by the Texas Business Corporation Act on the office of the secretary of state that is applicable to a stipulated premium company.
Source:
Section 884.002 — Applicability of Other Law to Company, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.884.htm#884.002 (accessed Jun. 5, 2024).
