™Your Policy Risk Impact Agent
386 chapters · 7,822 sections in this title.
Tex. Insurance Code § 4053.105 Escrow Account
0.7K chars
Sec. 4053.105. ESCROW ACCOUNT. (a) A managing general agent shall maintain an escrow account in a bank that: (1) is a member of the Federal Reserve System; and (2) has its accounts insured by the Federal Deposit Insurance Corporation. (b) On receipt, the managing general agent sh…
Tex. Insurance Code § 4053.106 Fiduciary Capacity
0.4K chars
Sec. 4053.106. FIDUCIARY CAPACITY. A managing general agent holds money on behalf of an insured or insurer in a fiduciary capacity and shall properly account for that money as required by law, department rules, and a contract with an insurer. The department's examiners may audit …
Tex. Insurance Code § 4053.107 Financial Examination
2.7K chars
Sec. 4053.107. FINANCIAL EXAMINATION. (a) As the commissioner considers necessary, a managing general agent shall submit to an examination of the agent's financial condition and the agent's compliance with the laws of this state affecting the conduct of the agent's business. (b) …
Tex. Insurance Code § 4053.108 Required Notices To Department
1.4K chars
Sec. 4053.108. REQUIRED NOTICES TO DEPARTMENT. (a) On forms prescribed by the department, a managing general agent shall notify the department not later than the 30th day after the date any of the following occurs: (1) balances due to an insurer for more than 90 days exceed: (A) …