Texas § 4053.109 REINSURANCE.

Texas Statutes

§ 4053.109 — REINSURANCE.

Texas § 4053.109

Code INInsurance Code

This text of Texas § 4053.109 (REINSURANCE.) 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. § 4053.109 (2026).

Text

Sec. 4053.109. REINSURANCE.

(a)A managing general agent may not knowingly cede, arrange, facilitate, or bind an insurer to reinsurance.

(b)Notwithstanding Subsection (a), a managing general agent may bind a facultative reinsurance contract in accordance with an obligatory facultative agreement if the contract with the insurer contains reinsurance underwriting guidelines including, for both assumed and ceded reinsurance:

(1)a list of reinsurers with whom the automatic agreements are in effect;

(2)the coverages and amounts or percentages that may be reinsured; and

(3)commission schedules.

(c)A managing general agent may not commit an insurer to participate in insurance or reinsurance syndicates.

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Sec. 4053.109. REINSURANCE. (a) A managing general agent may not knowingly cede, arrange, facilitate, or bind an insurer to reinsurance.
(b) Notwithstanding Subsection (a), a managing general agent may bind a facultative reinsurance contract in accordance with an obligatory facultative agreement if the contract with the insurer contains reinsurance underwriting guidelines including, for both assumed and ceded reinsurance:
(1) a list of reinsurers with whom the automatic agreements are in effect;
(2) the coverages and amounts or percentages that may be reinsured; and
(3) commission schedules.
(c) A managing general agent may not commit an insurer to participate in insurance or reinsurance syndicates.