| (vii) compilations of premium volume by surplus lines agent, insurer, and kinds and class of surplus lines insurance coverage; (F) providing seminars and other educational programs relating to the Texas Insurance Code, this chapter, and the procedures of the stamping office; (G) collecting information as provided in this chapter and the Texas Insurance Code §981.002 (formerly Article 1.14-2, §6A); (H) maintaining communications with agents, surplus lines insurers, insurance industry advisory associations, and related trade associations; (I) maintaining communication with the commissioner, the department and the comptroller; (J) providing information, including tax reports, to surplus lines agents; and (K) conducting other activities required by this chapter. (11) The stamping office is authorized by §15.12 of this title to make inquiries to effect its function under this chapter. (12) Any information collected under this chapter that indicates potential non-fraudulent violation of the laws of this state or the rules adopted thereunder that has not been determined by inquiries for information to be nonexistent or corrected as a technical deficiency shall be reported to the department, or in the case of information relating to taxes, reported to the comptroller. (13) Stamping office recommendations against eligibility under §15.8 of this title shall be considered by the department. The stamping office may change an eligibility recommendation based on new or corrected information. (f) The board of directors shall, once each year, provide for an independent audit of all the books and records of the stamping office, and a copy of the audit report shall be provided to the commissioner. (g) Each member of the board of directors, officer, or employee of the stamping office shall be indemnified by the stamping office against all expenses, judgments, decrees, fines, penalties, and amounts paid in settlement, or incurred in the defense, of any action taken or not taken by such person in the performance of such person's powers and duties under the Texas Insurance Code and the rules of the department and this plan of operation, unless such person shall be finally adjudged to have committed a breach of duty involving gross negligence, bad faith, dishonesty, willful misfeasance, malfeasance, or reckless disregard of such person's responsibilities. In the event of settlement before final adjudication, such indemnity shall be provided only if the stamping office is advised by independent counsel that such person did not, in counsel's opinion, commit such a breach of duty. The stamping office may purchase and maintain insurance on behalf of any person who is or was a director, officer, or employee of the stamping office against any liability asserted against such person and incurred by such person in such capacity or arising out of such person's status as such, whether or not the stamping office can indemnify such person against such liability under this chapter. (h) In the event the stamping office is dissolved, the commissioner shall take charge of and transfer the remaining assets, books, and records of the stamping office to the department or to another organization established for the same or similar purpose as the stamping office and which organization shall be exempt under the Internal Revenue Code, §501(c)(3). |
