Texas Insurance Code 981.102 – Limit On Use of Surplus Lines Policy or Contract Forms
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Insurance Code 981.102
- Contract: A legal written agreement that becomes binding when signed.
A surplus lines insurance policy or contract form may not be used unless use of the form is:
(1) reasonably necessary for the principal purposes of the insurance coverage; or
(2) not contrary to the purposes of this chapter regarding the reasonable protection of authorized insurers from unwarranted competition by unauthorized insurers.