Texas Insurance Code
Sec. § 964.055
Certificate of Authority Required


(a)

An entity may not engage in business as a captive insurance company domiciled in this state unless it holds a certificate of authority issued by the department to act as a captive insurance company. A captive insurance company, when permitted by its certificate of formation or governing document, may apply for a certificate of authority under this chapter.

(b)

An entity does not qualify for a certificate of authority under this chapter unless:

(1)

its affiliates have significant operations in this state, as determined by the commissioner;

(2)

its board of directors or governing body holds at least one meeting each year in this state;

(3)

it maintains its principal office and books and records in this state, unless the commissioner grants an application to relocate the entity’s books and records under Chapter 803 (Location of Books, Records, Accounts, and Offices Outside of This State); and

(4)

it complies with Section 804.101 (Domestic Company) or 804.102 (Domestic Company That Maintains Principal Offices or Books, Records, and Accounts out of State).
Added by Acts 2013, 83rd Leg., R.S., Ch. 569 (S.B. 734), Sec. 2, eff. June 14, 2013.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 1.05, eff. June 15, 2017.
Source
Last accessed
Oct. 1, 2020