Texas § 463.162 ASSIGNMENT OR TRANSFER OF CREDIT.

Texas Statutes

§ 463.162 — ASSIGNMENT OR TRANSFER OF CREDIT.

Texas § 463.162

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 463.162 (2026).

Text

Sec. 463.162. ASSIGNMENT OR TRANSFER OF CREDIT.

(a)A member insurer may assign or transfer a credit against premium tax to another member insurer if:

(1)an acquisition, merger, or total assumption of reinsurance occurs between the insurers; or

(2)the commissioner by order approves the assignment or transfer.

(b)Not later than the later of November 1 or the 60th day after the date of the assignment or transfer, each member insurer shall:

(1)report the assignment or transfer to the comptroller on a form the comptroller prescribes; and

(2)include with the report any documents from the commissioner that show approval of the assignment or transfer.

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Sec. 463.162. ASSIGNMENT OR TRANSFER OF CREDIT. (a) A member insurer may assign or transfer a credit against premium tax to another member insurer if:
(1) an acquisition, merger, or total assumption of reinsurance occurs between the insurers; or
(2) the commissioner by order approves the assignment or transfer.
(b) Not later than the later of November 1 or the 60th day after the date of the assignment or transfer, each member insurer shall:
(1) report the assignment or transfer to the comptroller on a form the comptroller prescribes; and
(2) include with the report any documents from the commissioner that show approval of the assignment or transfer.