SCOPE OF CERTIFICATE OF AUTHORITY.
Tex. INS Code § 841.409.
in effect(a) A limited purpose subsidiary life insurance company that has been issued a certificate of authority may reinsure only the risks of a ceding insurer. A limited purpose subsidiary life insurance company may not otherwise engage in the business of insurance.
(b) A limited purpose subsidiary life insurance company may purchase reinsurance to cede the risks assumed under a reinsurance contract.
(c) A limited purpose subsidiary life insurance company organized under this subchapter is considered to be licensed to transact the business of reinsurance for the purposes of Section 493.051 , but may only reinsure risks of the company's affiliated companies.
(d) A limited purpose subsidiary life insurance company shall provide the commissioner with notice of any change in the company's business plan required by Section 841.405 , including any material change in the methods used to comply with Section 841.413 .
Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161 ), Sec. 1, eff. June 17, 2011.