Texas § 964.104 ATTORNEY IN FACT REQUIREMENTS.

Texas Statutes

§ 964.104 — ATTORNEY IN FACT REQUIREMENTS.

Texas § 964.104

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 964.104 (2026).

Text

Sec. 964.104. ATTORNEY IN FACT REQUIREMENTS. The attorney in fact of a captive exchange must:

(1)be:

(A)a corporation organized in this state; or

(B)a limited liability company organized in this state;

(2)on the date of the captive exchange's formation, have and maintain a power of attorney with all subscribers of the captive exchange;

(3)have its principal office in this state; and

(4)have at least three members in the governing body of the attorney in fact, and at least one of those members must be a resident of this state.

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Sec. 964.104. ATTORNEY IN FACT REQUIREMENTS. The attorney in fact of a captive exchange must:
(1) be:
(A) a corporation organized in this state; or
(B) a limited liability company organized in this state;
(2) on the date of the captive exchange's formation, have and maintain a power of attorney with all subscribers of the captive exchange;
(3) have its principal office in this state; and
(4) have at least three members in the governing body of the attorney in fact, and at least one of those members must be a resident of this state.