Texas § 424.109 DESIGNATION OF POOL MANAGER; QUALIFICATIONS.

Texas Statutes

§ 424.109 — DESIGNATION OF POOL MANAGER; QUALIFICATIONS.

Texas § 424.109

Code INInsurance Code

This text of Texas § 424.109 (DESIGNATION OF POOL MANAGER; QUALIFICATIONS.) 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. § 424.109 (2026).

Text

Sec. 424.109. DESIGNATION OF POOL MANAGER; QUALIFICATIONS.

(a)The pooling agreement for an investment pool must designate a pool manager.

(b)The pool manager must be organized under the laws of the United States or a state and must be:

(1)the investing insurer, an affiliated insurer, or a business entity affiliated with the insurer;

(2)a qualified bank;

(3)a business entity registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), as amended;

(4)the attorney-in-fact of a reciprocal or interinsurance exchange; or

(5)the United States manager or an affiliate or subsidiary of the United States manager of a United States branch of an alien insurer.

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Sec. 424.109. DESIGNATION OF POOL MANAGER; QUALIFICATIONS. (a) The pooling agreement for an investment pool must designate a pool manager.
(b) The pool manager must be organized under the laws of the United States or a state and must be:
(1) the investing insurer, an affiliated insurer, or a business entity affiliated with the insurer;
(2) a qualified bank;
(3) a business entity registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), as amended;
(4) the attorney-in-fact of a reciprocal or interinsurance exchange; or
(5) the United States manager or an affiliate or subsidiary of the United States manager of a United States branch of an alien insurer.