SUBCHAPTER E. REQUIREMENTS RELATING TO MANAGERS

Sec. 4152.201.  CONTRACT BETWEEN MANAGER AND INSURER.  (a)  A manager and an insurer represented by the manager may enter into a transaction only under a written contract that:
(1)  is executed by a responsible officer of both the manager and the insurer;
(2)  is approved by the insurer's board of directors or attorney in fact;
(3)  specifies the responsibilities of each party;
(4)  identifies the rate, terms, and purpose of each commission, charge, or other fee the manager may assess the insurer;  and
(5)  at a minimum, incorporates the requirements of Sections 4152.202-4152.214.
(b)  Not later than the 30th day before the date the insurer assumes or cedes business through the manager, a copy of the executed contract must be filed with the commissioner for approval.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.