Texas Insurance Code 101.301 – Reporting Required
Current as of: 2024 | Check for updates
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(a) A person investigating or adjusting a loss or claim on a subject of insurance in this state shall immediately report to the department an insurance policy or contract that has been entered into by an insurer that is not authorized to transact the insurance in this state.
(b) This section does not apply to:
(1) a transaction described by § 101.053(b)(4); or
(2) surplus lines insurance procured through eligible surplus lines insurers as defined by § 981.002.
Terms Used In Texas Insurance Code 101.301
- Contract: A legal written agreement that becomes binding when signed.
- 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