Form FIN185 Moving a Captive Insurance Company's Books and Records out of the State of Texas - Texas

What Is Form FIN185?

This is a legal form that was released by the Texas Department of Insurance - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: Can a captive insurance company move its books and records out of the state of Texas?A: Yes, a captive insurance company can move its books and records out of the state of Texas.

Q: Is there any requirement for a captive insurance company to notify the Texas Department of Insurance when moving its books and records out of the state?A: Yes, a captive insurance company must notify the Texas Department of Insurance when moving its books and records out of the state.

Q: What is the required notification period for a captive insurance company to notify the Texas Department of Insurance when moving its books and records out of the state?A: The captive insurance company must provide at least 30 days written notice to the Texas Department of Insurance before moving its books and records out of the state.

Q: What information needs to be included in the notification to the Texas Department of Insurance when a captive insurance company moves its books and records out of the state?A: The notification must include the name and location of the new jurisdiction where the books and records will be maintained.

Q: Is there any fee associated with notifying the Texas Department of Insurance when a captive insurance company moves its books and records out of the state?A: Yes, there is a fee of $500 associated with notifying the Texas Department of Insurance when a captive insurance company moves its books and records out of the state.

Q: Are there any penalties for failing to notify the Texas Department of Insurance when a captive insurance company moves its books and records out of the state?A: Yes, failure to provide the required notice may result in administrative action by the Texas Department of Insurance.

Q: Is there any additional requirement for a captive insurance company that is moving its books and records out of the state of Texas and subsequently surrendering its certificate of authority?A: Yes, a captive insurance company that is moving its books and records out of the state and surrendering its certificate of authority must also file a statement of surrender with the Texas Department of Insurance.