Texas § 2551.003 RULEMAKING; AUTHORITY OF DEPARTMENT AND COMMISSIONER.

Texas Statutes

§ 2551.003 — RULEMAKING; AUTHORITY OF DEPARTMENT AND COMMISSIONER.

Texas § 2551.003

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This text of Texas § 2551.003 (RULEMAKING; AUTHORITY OF DEPARTMENT AND COMMISSIONER.) 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.

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Tex. Insurance Code Code Ann. § 2551.003 (2026).

Text

Sec. 2551.003. RULEMAKING; AUTHORITY OF DEPARTMENT AND COMMISSIONER.

(a)The commissioner may adopt and enforce rules:

(1)that prescribe underwriting standards and practices on which a title insurance contract must be issued;

(2)that define risks that may not be assumed under a title insurance contract, including risks that may not be assumed because of the insolvency of the parties to the transaction; and

(3)that the commissioner determines are necessary to accomplish the purposes of this title.

(b)With respect to a company operating under this title that engages in the kinds of business described by Section 2551.051 (b)(1) or (2) in a manner that might subject the company to another regulatory statute of this state, all examination and regulation shall be exercised by the department

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Sec. 2551.003. RULEMAKING; AUTHORITY OF DEPARTMENT AND COMMISSIONER. (a) The commissioner may adopt and enforce rules:
(1) that prescribe underwriting standards and practices on which a title insurance contract must be issued;
(2) that define risks that may not be assumed under a title insurance contract, including risks that may not be assumed because of the insolvency of the parties to the transaction; and
(3) that the commissioner determines are necessary to accomplish the purposes of this title.
(b) With respect to a company operating under this title that engages in the kinds of business described by Section 2551.051 (b)(1) or (2) in a manner that might subject the company to another regulatory statute of this state, all examination and regulation shall be exercised by the department rather than any other state agency named in the other regulatory statute, as long as the corporation engages in the business of title insurance.
SUBCHAPTER B. FORMATION