Section 884.501 - Direct Reinsurance Agreements Between Stipulated Premium Companies(a) Stipulated premium companies organized under this chapter may enter into a total or partial direct reinsurance agreement if the company assuming the policies under the agreement is authorized to transact the kinds of insurance provided by those policies.(b) Before a stipulated premium company may enter into a total direct reinsurance agreement: (1) the company must submit the agreement to the department; and(2) the department must approve the agreement as fully protecting the interests of all the holders of policies being assumed.(c) A partial direct reinsurance agreement shall be filed with the department before the effective date of the agreement.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.