Any insurer licensed to do the business of insurance in this state, and while reinsuring its entire outstanding business to an assuming reinsurer shall submit to the commissioner of insurance through the Texas Department of Insurance, Company License Division, with a copy to the Reinsurance Activity, the written plan of reinsurance, including the reinsurance agreement, and all necessary documents to allow the commissioner of insurance to determine that the interests of all policyholders are fully protected prior to entering into the reinsurance agreement.

Source Note:The provisions of this §7.604 adopted to be effective August 16, 1990, 15 TexReg 4435; amended to be effective September 30, 1993, 18 TexReg 6329.