Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 5 - PROPERTY AND CASUALTY INSURANCE
Subchapter E - TEXAS WINDSTORM INSURANCE ASSOCIATION
Division 3 - LOSS FUNDING, INCLUDING CATASTROPHE RESERVE TRUST FUND, FINANCING ARRANGEMENTS, AND PUBLIC SECURITIES
Section 5.4127 - Contingent Sources of Payment for Class 2 and Class 3 Public Securities
Current through Reg. 50, No. 13; March 28, 2025
(a) To obtain approval for the issuance of class 2 or class 3 public securities paid from contingent surcharges, the association must first submit a written request to the commissioner.
(b) In its request to the commissioner under subsection (a) of this section, the association must include:
(c) When providing information required under When providing information required under subsection (b)(2) of this section, the association may rely on information and advice provided by TPFA, TPFA consultants, TPFA legal counsel, and third parties retained by the association for this purpose., the association may rely on information and advice provided by TPFA, TPFA consultants, TPFA legal counsel, and third parties retained by the association for this purpose.
(d) The commissioner, after consultation with TPFA, may order that class 2 or class 3 public securities be paid as provided by Insurance Code § 2210.6132 if either: