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RULE §7.25Out of State Books and Records

eligible insurer files its complete notice of intent to relocate records, including the applicable filing fee, the Commissioner does not request additional information and has not disapproved such notice, the notice shall be deemed approved.

(i) Relocation of Records Approved to be Located Out of State. An eligible insurer that has relocated records out of state pursuant to Insurance Code Article 1.28 and this section and desires to relocate those records to another location, must file with the department the notice of intent to relocate records required by subsection (c) of this section. The eligible insurer may use the previously approved notice of intent to relocate records to comply with this subsection to the extent there has been no change in the information previously submitted.

(j) Articles of Incorporation or Charter. An eligible insurer that relocates its records out of state is not required to amend its articles of incorporation, charter or other organizational document to reflect the relocation to the extent there has been no change in such documents as a result of the relocation.

(k) Revocation of Authority to Relocate Records. The Commissioner, upon notice and opportunity for hearing, may limit or revoke the authority of an eligible insurer to maintain records outside this state if the eligible insurer or person possessing and maintaining the records of the eligible insurer fails or refuses to comply with a request to provide information as part of an examination, or if the Commissioner determines that the continued operations of the eligible insurer might be hazardous to policyholders, creditors or the general public.

(l) Examples of the service of process form to be executed by the eligible insurer (TDI/SOP (2000)) and the controlling person (TDI/SOP-CP (2000)) under subsection (d)(15) & (16) of this section are available from the Company Licensing and Registration Division, Texas Department of Insurance, 333 Guadalupe. P.O. Box 149104, Austin, Texas 78714-9104.

Source Note: The provisions of this §7.25 adopted to be effective July 11, 2000, 25 TexReg 6517; amended to be effective April 26, 2021, 46 TexReg 2823

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