Texas § IN.911.303 - REINSURANCE
Full text of Texas The Texas Constitution § IN.911.303 — REINSURANCE, with citation guidance and answers to common questions.
§ IN.911.303. REINSURANCE
REINSURANCE. (a) A farm mutual insurance company may reinsure the company's risks with another company against any hazard against which the farm mutual insurance company is permitted to insure. (b) The farm mutual insurance company may contract for mutual or reciprocal reinsurance with another company on the mutual or cooperative plan subject to the following conditions: (1) the farm mutual company may assume the reinsurance on the risks of the other company only if the other company reinsures the risks of the farm mutual insurance company; and (2) the farm mutual company may write or assume the reinsurance only on property that the company is authorized to insure and that is located in this state. (c) A farm mutual insurance company that reinsures another company's property is liable for the losses of the other company only as specified in the reinsurance contract. The farm mutual insurance company does not become a member or partner of the other company as a result of the reinsurance. (d) A farm mutual insurance company may pay or collect additional assessments or premiums for the purpose of a contract described by Subsection (b). Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.911.303
What does The Texas Constitution § IN.911.303 cover?
Section IN.911.303 ("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.911.303?
A common citation format is "The Texas Constitution § IN.911.303" (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.911.303 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.