Texas § 841.403 ORGANIZATIONAL DOCUMENTS.

Texas Statutes

§ 841.403 — ORGANIZATIONAL DOCUMENTS.

Texas § 841.403

Code INInsurance Code

This text of Texas § 841.403 (ORGANIZATIONAL DOCUMENTS.) 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. § 841.403 (2026).

Text

Sec. 841.403. ORGANIZATIONAL DOCUMENTS.

(a)A wholly owned domestic insurer authorized to transact the business of insurance under this chapter or an affiliated company organized or authorized to conduct business under the laws of this state may organize a limited purpose subsidiary life insurance company under this subchapter.

(b)A limited purpose subsidiary life insurance company may reinsure risks of the organizing company and of an affiliated company.

(c)A limited purpose subsidiary life insurance company's organizational documents must:

(1)limit the company's authority to transact the business of insurance to reinsuring only the risks of a ceding insurer;

(2)provide that the limited purpose subsidiary life insurance company may not otherwise engage in the business of insurance; an

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 841.403. ORGANIZATIONAL DOCUMENTS. (a) A wholly owned domestic insurer authorized to transact the business of insurance under this chapter or an affiliated company organized or authorized to conduct business under the laws of this state may organize a limited purpose subsidiary life insurance company under this subchapter.
(b) A limited purpose subsidiary life insurance company may reinsure risks of the organizing company and of an affiliated company.
(c) A limited purpose subsidiary life insurance company's organizational documents must:
(1) limit the company's authority to transact the business of insurance to reinsuring only the risks of a ceding insurer;
(2) provide that the limited purpose subsidiary life insurance company may not otherwise engage in the business of insurance; and
(3) provide that the limited purpose subsidiary life insurance company must always be wholly owned by a domestic insurer authorized to transact the business of insurance under this chapter or by an affiliated company organized or authorized to do business under the laws of this state.