Designation of Pool Manager; Qualifications

Sec. 424.109. DESIGNATION OF POOL MANAGER; QUALIFICATIONS. (a) The pooling agreement for an investment pool must designate a pool manager. (b) The pool manager must be organized under the laws of the United States or a state and must be: (1) the investing insurer, an affiliated insurer, or a business entity affiliated with the insurer; (2) a qualified bank; (3) a business entity registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), as amended; (4) the attorney-in-fact of a reciprocal or interinsurance exchange; or (5) the United States manager or an affiliate or subsidiary of the United States manager of a United States branch of an alien insurer. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.