Section 2551.351 - Forfeiture of Right to Engage in Business(a) A foreign or domestic corporation forfeits any right to engage in business in this state if the corporation:(1) issues any form of title insurance policy, or any other adopted or approved form, on real property in this state other than a form prescribed by the department;(2) charges any premium rate on an owner, mortgagee, or other title insurance policy, or on any other adopted or approved form, on real property in this state other than a premium rate prescribed by the commissioner; or(3) otherwise engages in the business of title insurance in relation to real property in this state on a form or for a premium rate not prescribed by the department or commissioner.(b) This section does not apply to a premium rate charged in connection with a reinsurance transaction between two or more title insurance companies, provided that the reinsurance contract complies with Subchapter G.Tex. Ins. Code § 2551.351
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. 4/1/2005.