(a) An applicant for a reinsurance intermediary license who is not a resident of this state must:
(1) designate the commissioner as agent for service of process in the manner, and with the same legal effect, as provided by Chapter 804 for service of process on unauthorized insurers; and
(2) provide the commissioner with the name and address of a resident of this state on whom a notice or order of the commissioner or process affecting the applicant may be served.
(b) A license holder who is a nonresident shall notify the commissioner in writing of each change in the license holder’s designated agent under Subsection (a)(2) not later than the 30th day after the date on which the license holder makes the change. The change does not take effect until acknowledged by the commissioner.