Tex. Ins. Code § 941.201
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
The department may not issue a certificate of authority to an attorney in fact unless the net assets contributed to the attorney in fact, a committee of underwriters, a trustee, or other officers as provided for in the articles of agreement constitute a guaranty fund and surplus over and above all of the Lloyd's plan's liabilities that is at least equal to the minimum capital stock and surplus required of a stock insurance company engaging in the same kinds of business.
Tex. Ins. Code § 941.201