Tex. Ins. Code Section 964.104
Attorney in Fact Requirements

The attorney in fact of a captive exchange must:

(1)

be:

(A)

a corporation organized in this state; or

(B)

a limited liability company organized in this state;

(2)

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

(3)

have its principal office in this state; and

(4)

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.

Source: Section 964.104 — Attorney in Fact Requirements, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­964.­htm#964.­104 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 964.104’s source at texas​.gov