28 Tex. Admin. Code § 6.203 - Issuance of Captive Insurance Company Certificate of Authority
(a) Following submission of the information
and documentation described under §
6.202 of this title the
Commissioner will review the information for compliance with Insurance Code
Chapter 964 and this chapter. If requested, the applicant must provide the
Commissioner with updated information during this review.
(b) If the Commissioner determines that the
applicant meets the requirements for issuance of a certificate of authority,
the Commissioner will issue the certificate as described in Insurance Code §
964.059(d).
If the department has granted conditional exceptions under §
6.202(f) of this
title, the certificate of authority will list the exceptions and be issued on a
consent basis, requiring the written agreement of the captive insurance
company.
(c) If the Commissioner
determines that the applicant has not met the requirements for issuance of a
certificate of authority under Insurance Code §
964.059 and this
chapter, the Commissioner will deny the application. Following denial of the
application, the applicant may proceed under Insurance Code §
964.059(c).
Notes
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