Section 2502.054 - Certain Divisions of Premiums Not Prohibited(a) For purposes of this section, a subsidiary is a company at least 50 percent of the voting stock of which is owned by the title insurance company or by a wholly owned subsidiary of the title insurance company.(b) This subchapter does not: (1) prohibit a title insurance company from: (A) appointing as its title insurance agent for a county a person who owns or leases and operates an abstract plant for that county; and(B) arranging for a division of premiums with the agent as set by the commissioner; or(2) affect the division of a premium between a title insurance company and its subsidiary title insurance agent when the company directly issues a title insurance policy or contract under Section 2704.002.Tex. Ins. Code § 2502.054
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. 4/1/2005.