Texas § IN.941.004 - WITHDRAWAL FROM THE BUSINESS OF INSURANCE
Full text of Texas The Texas Constitution § IN.941.004 — WITHDRAWAL FROM THE BUSINESS OF INSURANCE, with citation guidance and answers to common questions.
§ IN.941.004. WITHDRAWAL FROM THE BUSINESS OF INSURANCE
WITHDRAWAL FROM THE BUSINESS OF INSURANCE. (a) A Lloyd's plan may withdraw from the business of insurance only if the department determines that adequate provision has been made, through reinsurance or other means, for: (1) payment of all unadjusted losses of the Lloyd's plan; and (2) reinsurance of all outstanding risks in favor of residents of this state or covering property located in this state. (b) On compliance with the requirements of Subsection (a): (1) any bond of the attorney in fact shall be released; and (2) the department shall release to the underwriters any net assets over which the department has joint control. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. SUBCHAPTER B. FORMATION AND STRUCTURE OF LLOYD'S PLAN
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.941.004
What does The Texas Constitution § IN.941.004 cover?
Section IN.941.004 ("WITHDRAWAL FROM THE BUSINESS OF INSURANCE") 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.941.004?
A common citation format is "The Texas Constitution § IN.941.004" (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.941.004 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.