85th Texas Legislature, Regular Session, House Bill 2492, Chapter 854 Page: 4 of 12
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H.B. No. 2492
1 (1) the insurance is procured as eligible surplus
2 lines insurance under this chapter; and
3 (2) the insurance is a kind of insurance the insurer is
4 authorized to write under the insurer's articles of incorporation.
5 (b) A domestic surplus lines insurer may not issue:
6 (1) a policy in the admitted market; or
7 (2) a policy to satisfy the financial responsibility
8 requirements of Chapter 601, Transportation Code, insurance
9 requirements of Chapter 406, Labor Code, or requirements of any
10 other law of this state mandating insurance coverage by an
11 insurance company authorized to engage in the business of insurance
12 in this state.
13 Sec. 981.075. TAXES IMPOSED. (a) The premium for a surplus
14 lines policy written under this subchapter is subject to the
15 premium tax, if applicable, imposed under Chapter 225.
16 (b) A domestic surplus lines insurer is subject to an
17 applicable maintenance tax as if the domestic surplus lines insurer
18 were an authorized insurer under Subtitle C, Title 3.
19 Sec. 981.076. REQUIREMENTS FOR DOMESTIC SURPLUS LINES
20 DOCUMENTS. (a) In this section, "surplus lines document" has the
21 meaning assigned by Section 981.101.
22 (b) A surplus lines document issued by a domestic surplus
23 lines insurer must include a statement in the form and manner
24 provided by commissioner rule.
25 Sec. 981.077. REDOMESTICATION. A foreign insurer may
26 redomesticate to this state as a domestic surplus lines insurer as
27 provided by Chapter 983 if the foreign insurer qualifies under4
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Texas. Legislature. House of Representatives. 85th Texas Legislature, Regular Session, House Bill 2492, Chapter 854, legislative document, June 15, 2017; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth1050792/m1/4/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.