Texas § 2201.054 QUALIFICATIONS REGARDING AUTHORITY OF CERTAIN ENTITIES TO ENGAGE IN BUSINESS.

Texas Statutes

§ 2201.054 — QUALIFICATIONS REGARDING AUTHORITY OF CERTAIN ENTITIES TO ENGAGE IN BUSINESS.

Texas § 2201.054

Code INInsurance Code

This text of Texas § 2201.054 (QUALIFICATIONS REGARDING AUTHORITY OF CERTAIN ENTITIES TO ENGAGE IN BUSINESS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 2201.054 (2026).

Text

Sec. 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 , 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

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 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 , 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.