Texas § IN.4053.109 - REINSURANCE
Full text of Texas The Texas Constitution § IN.4053.109 — REINSURANCE, with citation guidance and answers to common questions.
§ IN.4053.109. REINSURANCE
REINSURANCE. (a) A managing general agent may not knowingly cede, arrange, facilitate, or bind an insurer to reinsurance. (b) Notwithstanding Subsection (a), a managing general agent may bind a facultative reinsurance contract in accordance with an obligatory facultative agreement if the contract with the insurer contains reinsurance underwriting guidelines including, for both assumed and ceded reinsurance: (1) a list of reinsurers with whom the automatic agreements are in effect; (2) the coverages and amounts or percentages that may be reinsured; and (3) commission schedules. (c) A managing general agent may not commit an insurer to participate in insurance or reinsurance syndicates. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Frequently Asked Questions About Texas § IN.4053.109
What does The Texas Constitution § IN.4053.109 cover?
Section IN.4053.109 ("REINSURANCE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.4053.109?
A common citation format is "The Texas Constitution § IN.4053.109" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.4053.109 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.