Tex. Ins. Code § 424.109

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 424.109 - Designation of Pool Manager; Qualifications

(a) The pooling agreement for an investment pool must designate a pool manager.

(b) The pool manager must be organized under the laws of the United States or a state and must be:

(1) the investing insurer, an affiliated insurer, or a business entity affiliated with the insurer;

(2) a qualified bank;

(3) a business entity registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), as amended;

(4) the attorney-in-fact of a reciprocal or interinsurance exchange; or

(5) the United States manager or an affiliate or subsidiary of the United States manager of a United States branch of an alien insurer.

Tex. Ins. Code § 424.109

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.