Texas § 942.154 STATEMENTS RELATING TO INDEMNITY AMOUNTS.

Texas Statutes

§ 942.154 — STATEMENTS RELATING TO INDEMNITY AMOUNTS.

Texas § 942.154

Code INInsurance Code

This text of Texas § 942.154 (STATEMENTS RELATING TO INDEMNITY AMOUNTS.) 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. § 942.154 (2026).

Text

Sec. 942.154. STATEMENTS RELATING TO INDEMNITY AMOUNTS.

(a)The attorney in fact for an exchange shall file with the department a sworn statement that shows the maximum amount of indemnity on any single risk.

(b)The attorney in fact for an exchange shall, as required by the department, file with the department a sworn statement that:

(1)the attorney has examined the commercial rating of each subscriber, as established by the reference book of a commercial agency with at least 100,000 subscribers; and

(2)based on the examination or other information in the attorney's possession, it appears that no subscriber has assumed on any single risk an amount greater than 10 percent of that subscriber's net worth.

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

Sec. 942.154. STATEMENTS RELATING TO INDEMNITY AMOUNTS. (a) The attorney in fact for an exchange shall file with the department a sworn statement that shows the maximum amount of indemnity on any single risk.
(b) The attorney in fact for an exchange shall, as required by the department, file with the department a sworn statement that:
(1) the attorney has examined the commercial rating of each subscriber, as established by the reference book of a commercial agency with at least 100,000 subscribers; and
(2) based on the examination or other information in the attorney's possession, it appears that no subscriber has assumed on any single risk an amount greater than 10 percent of that subscriber's net worth.