2019 Texas Statutes
Insurance Code
Title 11 - Title Insurance
Subtitle A - General Provisions
Chapter 2502 - Prohibited Conduct
Subchapter B. Rebates and Discounts
Section 2502.054. Certain Divisions of Premiums Not Prohibited
Sec. 2502.054. CERTAIN DIVISIONS OF PREMIUMS NOT PROHIBITED. (a) For purposes of this section, a subsidiary is a company at least 50 percent of the voting stock of which is owned by the title insurance company or by a wholly owned subsidiary of the title insurance company.
(b) This subchapter does not:
(1) prohibit a title insurance company from:
(A) appointing as its title insurance agent for a county a person who owns or leases and operates an abstract plant for that county; and
(B) arranging for a division of premiums with the agent as set by the commissioner; or
(2) affect the division of a premium between a title insurance company and its subsidiary title insurance agent when the company directly issues a title insurance policy or contract under Section 2704.002.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
