Texas Insurance Code 4001.101 – License or Certificate of Authority Required; Designated Product Certificate
Current as of: 2024 | Check for updates
|
Other versions
(a) Unless the person holds a license or certificate of authority issued by the department and, if required by rules adopted under Chapter 4008, a certificate to sell a designated product or product line, a person may not:
(1) solicit or receive an application for insurance in this state; or
(2) aid in the transaction of the business of an insurer.
(b) A person may not act as an agent of a health maintenance organization or other type of insurer authorized to engage in business in this state unless the person holds:
(1) a license issued by the department as provided by this title; and
(2) if required by rules adopted under Chapter 4008, a certificate to sell a designated product or product line.
Terms Used In Texas Insurance Code 4001.101
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) An insurer described by Subsection (b) may not appoint a person to act as its agent unless the person holds:
(1) a license under this title; and
(2) if required by rules adopted under Chapter 4008, a certificate to sell a designated product or product line.
(d) This subchapter does not permit an employee or agent of a corporation or partnership to perform an act of an agent under this title without obtaining:
(1) a license; and
(2) if required by rules adopted under Chapter 4008, a certificate to sell a designated product or product line.