Texas Insurance Code 2201.207 – Prohibited Activities
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Terms Used In Texas Insurance Code 2201.207
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
A risk retention group may not:
(1) solicit or sell insurance to any person who is not eligible for membership in the group;
(2) solicit or sell insurance or operate if the group is in a hazardous financial condition or is financially impaired; or
(3) engage in business in this state if an insurer is directly or indirectly a member or owner of the group, unless all of the group members are insurers.