Tex. Insurance Code § 964.104
ATTORNEY IN FACT REQUIREMENTS
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 964.104, ATTORNEY IN FACT REQUIREMENTS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680617
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Full text
The attorney in fact of a captive exchange must:
(1) be:
(A) a corporation organized in this state; or
(B) a limited liability company organized in this state;
(2) on the date of the captive exchange's formation, have and maintain a power of attorney with all subscribers of the captive exchange;
(3) have its principal office in this state; and
(4) have at least three members in the governing body of the attorney in fact, and at least one of those members must be a resident of this state.