The exemption specified in §3.4102 of this title (relating
to Coverage Which May Be Exempted) is conditioned as follows.
(1) The insurer has an affirmative duty to comply with
the following:
(A) the insurer must file with the Texas Department
of Insurance a statement signed by an officer of the company certifying
that each of the conditions specified in either §3.4102(1) or
(2) of this title (relating to Coverage Which May Be Exempted) is
satisfied, and stating the name of the insured, the nature and extent
of benefits, the date the parties concluded the agreement respecting
insurance coverage, and the effective date of coverage;
(B) the insurer must inform the group policyholder
in writing that the coverage is exempted from review by the Texas
Department of Insurance for a limited time;
(C) the insurer must file the statement required by
subparagraph (A) of this paragraph and a copy of the communication
required by subparagraph (B) of this paragraph with the Texas Department
of Insurance by the later of:
(i) 10 days from the date the parties concluded the
agreement respecting the insurance coverage; or
(ii) 10 days from the effective date of coverage; and
(D) the insurer must submit the exempted forms for
review with the Texas Department of Insurance in the usual manner
prescribed by Insurance Code Chapter 1701, as soon as possible after:
(i) the effective date of coverage; or
(ii) the date the parties concluded the agreement respecting
the insurance coverage. In no event may the insurer delay submission
of the forms for review more than 45 days from the later of:
(I) the effective date of coverage; or
(II) the date the parties concluded the agreement respecting
the insurance coverage.
(2) The insurance coverage must be authorized by and
comply with the laws of this state.
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