Texas Register, Volume 27, Number 4, Pages 529-656, January 25, 2002 Page: 567
529-656 p. ; 28 cm.View a full description of this periodical.
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Mail Code 305-2A, Texas Department of Insurance, P.O. Box
149104, Austin, Texas 78714-9104. Any requests for a public
hearing should be submitted separately to the Office of the
Chief Clerk.
The amendments are proposed under the Insurance Code Arti-
cle 21.49-1 and Section 36.001. Article 21.49-1, 11 authorizes
the Commissioner of Insurance to issue such rules and orders
as shall be consistent with and shall carry out the provisions of
the Insurance Holding Company System Regulatory Act and to
govern the conduct of its business and proceedings under the
Act. Section 36.001 authorizes the commissioner to adopt rules
for the conduct and execution of the duties and functions of the
department.
The following articles of the Insurance Code are affected by
these amendments: Articles 21.49-1 and 21.49-2C.
7.201. Forms Filings.
(a) General requirements.
(1) The forms that are specified in 7.209 - 7.213 of this
title (relating to Form A, Form B, Form C, Form D, and Form E) are
intended to be guides in the preparation of the statements, notices, and
applications required by the Insurance Code[,] Article 21.49-1. They
are to provide notice of the information required and the location in
which it will be expected to be found. In preparing any statement, no-
tice, or application, the text of the form need not be repeated so long
as there is clear identity of the matter to which the answer or material
applies. Unless expressly provided otherwise, if any item is inapplica-
ble or the answer thereto is in the negative, an appropriate statement
to that effect shall be made. The forms specified in 7.209 - 7.213
of this title [(relating to Fotm A; Form B, Form C Form D and Form
E)] are also referred to in this subchapter as Forms A - E. Form A is
also referred to as the acquisition statement, Form B as the registration
statement, Form C as a disclaimer, Form D as an extraordinary divi-
dend, and Form E as an exemption statement. For use in accordance
with 7.209(d) and (f) of this title [(relating to Form A)] and 7.210(e)
of this title [(relating to Fom B)], the Texas Department of Insurance
adopts by reference the biographical affidavit form published by and
available from the Texas Department of Insurance. Copies of this form
may be obtained from Financial Analysis and Examinations [Moeni-
tering], Mail Code 303-1A, Texas Department of Insurance, P.O. Box
149099, 333 Guadalupe, Austin, Texas 78714-9099.
(2) Two complete originally signed copies (unless addi-
tional copies are requested by the commissioner) of each statement,
notice, or application, including exhibits and all other papers and
documents filed as a part thereof, in connection with any acquisition
statement filed under 7.209 of this title [(relating to Form A)], and
one complete originally signed copy of every other statement, notice,
or application, including exhibits and all other papers and documents
filed as a part thereof, shall be filed with the commissioner by personal
delivery or by mail addressed to: Financial Analysis and Examinations
[Monitoring], Mail Code 303-1A, Texas Department of Insurance,
P.O. Box 149099, 333 Guadalupe, Austin, Texas 78714-9099. Each
statement, notice, or application shall be subject to the appropriate
filing fee provided for in 7.1301 of this title (relating to Regulatory
Fees). The appropriate filing fee shall be forwarded to Financial
Analysis and Examinations [Monitoring] of the Texas Department
of Insurance under separate cover along with a copy of the letter
transmitting the statement, notice, or application.
(3) - (4) (No change.)
(b) Incorporation by reference, summaries, and omissions.(1) Information required by any item of any statement, no-
tice, or application may be incorporated by reference in answer or par-
tial answer to another item. Information contained in any instrument or
document filed with the [board or] commissioner within five years and
currently remaining on file may be incorporated by reference. Such
reference shall clearly identify the material and indicate it is incorpo-
rated by reference.
(2) - (4) (No change.)
(c) - (e) (No change.)
7.202. Definitions.
(a) The following words and terms, when used in this subchap-
ter, shall have the following meanings, unless the context clearly indi-
cates otherwise.
(1) - (3) (No change.)
(4) Commissioner--The commissioner of insurance of the
State of Texas, the commissioner's senior associates, associates or
deputies, or their designees, as appropriate.
(5) - (20) (No change.)
(b) Exemption--Commercially Domiciled Insurer.
(1) The commissioner may exempt from the provisions of
the Act and these sections, except the registration requirement, any
commercially domiciled insurer if the commissioner determines that
the insurer has assets physically located in this state or an asset to li-
ability ratio sufficient to justify the conclusion that there is no reason-
able danger that the operations or conduct of the business of the in-
surer could present a danger of loss to the policyholders of this state.
The exemption granted under this subsection shall set forth the spe-
cific criteria under which it is granted and shall be subject to annual
review. The commissioner may, after notice and opportunity for hear-
ing, rescind an exemption granted to a commercially domiciled insurer
under the provisions of the Act and these sections. A rescission of
an exemption shall set forth the rationale for the rescission. Requests
for an exemption under this subsection shall be filed with Financial
Analysis and Examinations [Monitoring], Mail Code 303-1A, Texas
Department of Insurance, P.O. Box 149099, 333 Guadalupe, Austin,
Texas 78714-9099. The request must contain a signed and notarized
affidavit of an executive officer of the insurer that, should the exemp-
tion be granted, the insurer has agreed to notify Financial Analysis and
Examinations [Monitoring] within ten days after it no longer meets the
criteria set out in this section on which the exemption is based. In de-
termining that a commercially domiciled insurer has sufficient assets to
justify the conclusion that there is no reasonable danger that the oper-
ations or conduct of the business of the insurer could present a danger
or loss to policyholders of this state, the commissioner shall give con-
sideration to the matters contained in subparagraphs (A) - (D) of this
paragraph in connection with an exemption requested under the Act,
2(s), and these sections.
(A) - (D) (No change.)
(2) (No change.)
7.203. Registration ofl Insurers.
(a) - (f) (No change.)
(g) Annual amendment. Within 120 days after the end of each
fiscal year of the ultimate controlling person (that person which is not
controlled by another person) of the insurance holding company sys-
tem, the registrant shall file an amendment to the registration statement
which shall make the registration statement current. Within 120 days
of the end of each calendar year ending in a five or a zero, the registrantPROPOSED RULES January 25, 2002 27 TexReg 567
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Texas. Secretary of State. Texas Register, Volume 27, Number 4, Pages 529-656, January 25, 2002, periodical, January 25, 2002; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth113987/m1/38/: accessed April 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.