Texas § 2551.351 FORFEITURE OF RIGHT TO ENGAGE IN BUSINESS.

Texas Statutes

§ 2551.351 — FORFEITURE OF RIGHT TO ENGAGE IN BUSINESS.

Texas § 2551.351

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 2551.351 (2026).

Text

Sec. 2551.351. FORFEITURE OF RIGHT TO ENGAGE IN BUSINESS.

(a)A foreign or domestic corporation forfeits any right to engage in business in this state if the corporation:

(1)issues any form of title insurance policy, or any other adopted or approved form, on real property in this state other than a form prescribed by the department;

(2)charges any premium rate on an owner, mortgagee, or other title insurance policy, or on any other adopted or approved form, on real property in this state other than a premium rate prescribed by the commissioner; or

(3)otherwise engages in the business of title insurance in relation to real property in this state on a form or for a premium rate not prescribed by the department or commissioner.

(b)This section does not apply to a premium rate charged in c

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Sec. 2551.351. FORFEITURE OF RIGHT TO ENGAGE IN BUSINESS. (a) A foreign or domestic corporation forfeits any right to engage in business in this state if the corporation:
(1) issues any form of title insurance policy, or any other adopted or approved form, on real property in this state other than a form prescribed by the department;
(2) charges any premium rate on an owner, mortgagee, or other title insurance policy, or on any other adopted or approved form, on real property in this state other than a premium rate prescribed by the commissioner; or
(3) otherwise engages in the business of title insurance in relation to real property in this state on a form or for a premium rate not prescribed by the department or commissioner.
(b) This section does not apply to a premium rate charged in connection with a reinsurance transaction between two or more title insurance companies, provided that the reinsurance contract complies with Subchapter G.