Texas Insurance Code 823.059 – Exemptions
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(a) The registration requirement under § 823.051 does not apply to a foreign or nondomestic insurer, other than a commercially domiciled insurer, that is subject to disclosure requirements adopted by statute or regulation in the jurisdiction of its domicile that are substantially similar to the disclosure requirements provided by this chapter.
(b) The commissioner may require an insurer that is exempt from registration under Subsection (a) to provide a copy of the registration statement or other information filed by the insurer with the insurance regulatory authority of its domiciliary jurisdiction.
Terms Used In Texas Insurance Code 823.059
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Rule: includes regulation. See Texas Government Code 311.005
- Statute: A law passed by a legislature.
(c) The commissioner, by rule or order, may exempt an insurer, information, or a transaction from the application of this subchapter.