Texas Insurance Code 842.207 – Contracts; Reinsurance; Other Agreements
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(a) Subject to Subsection (b), a group hospital service corporation may:
(1) contract with another organization similar in character for joint participation through:
(A) a mutualization contract agreement;
(B) a reinsurance treaty; or
(C) another arrangement; and
(2) cede or accept risks from an insurer on all or part of a risk.
(b) Each document used for a purpose described by Subsection (a) must be filed with the department and approved by the commissioner for use in that purpose.
Terms Used In Texas Insurance Code 842.207
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.