Texas Insurance Code
Sec. § 964.104
Attorney in Fact Requirements

The attorney in fact of a captive exchange must:

(1)

be:

a corporation organized in this state; or

a limited liability company organized in this state;

on the date of the captive exchange’s formation, have and maintain a power of attorney with all subscribers of the captive exchange;

have its principal office in this state; and

have at least three members in the governing body of the attorney in fact, and at least one of those members must be a resident of this state.

Added by Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 2.01, eff. June 15, 2017.