Texas § 823.403 MANAGEMENT OF CONTROLLED INSURER.

Texas Statutes

§ 823.403 — MANAGEMENT OF CONTROLLED INSURER.

Texas § 823.403

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Tex. Insurance Code Code Ann. § 823.403 (2026).

Text

Sec. 823.403. MANAGEMENT OF CONTROLLED INSURER.

(a)The control of an authorized insurer by another person does not relieve an officer or director of the insurer of any obligation or liability to which the officer or director is subject by law. The insurer shall be managed to assure the insurer's separate operating identity consistent with this code.

(b)This section does not preclude an authorized insurer from having a common management or joint use of personnel, property, or services with one or more other persons under an arrangement that meets the standards of Section 823.101 (e). SUBCHAPTER J. CIVIL REMEDIES AND SANCTIONS

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Sec. 823.403. MANAGEMENT OF CONTROLLED INSURER. (a) The control of an authorized insurer by another person does not relieve an officer or director of the insurer of any obligation or liability to which the officer or director is subject by law. The insurer shall be managed to assure the insurer's separate operating identity consistent with this code.
(b) This section does not preclude an authorized insurer from having a common management or joint use of personnel, property, or services with one or more other persons under an arrangement that meets the standards of Section 823.101 (e).
SUBCHAPTER J. CIVIL REMEDIES AND SANCTIONS