Texas Administrative Code
Title 16 - ECONOMIC REGULATION
Part 4 - TEXAS DEPARTMENT OF LICENSING AND REGULATION
Chapter 77 - SERVICE CONTRACT PROVIDERS AND ADMINISTRATORS
Section 77.41 - Financial Security-Reimbursement Insurance Policy

Universal Citation: 16 TX Admin Code § 77.41

Current through Reg. 50, No. 13; March 28, 2025

(a) A provider that uses a reimbursement insurance policy to comply with the financial security requirements of Texas Occupations Code § 1304.151 and § 1304.152, will not be allowed to obtain or renew a registration unless the insurer issuing the policy has provided all of the information and met all of the requirements set forth in Texas Occupations Code § 1304.152(a-1).

(b) A reimbursement insurance policy that is used to comply with the financial security requirements of Texas Occupations Code § 1304.151 and § 1304.152 must include:

(1) the "Service Contract Provider Texas Endorsement" prescribed by the executive director; and

(2) copy of the approval letter from the Texas Department of Insurance for using the endorsement.

(c) A provider of a residential service contract may use a reimbursement insurance policy and maintain a funded reserve account as described in Texas Occupations Code § 1304.157(c).

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