Tex. Ins. Code § 964.104

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

Section 964.104 - Attorney in Fact Requirements

The attorney in fact of a captive exchange must:

(1) be:

(A) a corporation organized in this state; or

(B) a limited liability company organized in this state;

(2) on the date of the captive exchange's formation, have and maintain a power of attorney with all subscribers of the captive exchange;

(3) have its principal office in this state; and

(4) have at least three members in the governing body of the attorney in fact, and at least one of those members must be a resident of this state.

Tex. Ins. Code § 964.104

Added by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 1050,Sec. 2.01, eff. 6/15/2017.