No. WW-0235 (1957).
|Case Date:||August 27, 1957|
Texas Attorney General Opinions 1957. No. WW-0235 (1957). 1August 27, 1957Hon. William A. HarrisonCommissioner of InsuranceState Board of InsuranceAustin 14, TexasOpinion No. WW-235Re: Whether the Tri-County Mutual Insurance Company was organized and operating as such on May 22, 1953, and thereby entitled to the industrial exemption contained in Article 17.02 of the Insurance Code. And related question.Dear Mr. Harrison: Your request for an opinion is based upon the following facts: Article 17.02 of the Insurance Code exempts county mutual insurance companies "organized and operating as a county mutual fire insurance company on May 22, 1953, whose business is devoted exclusively to the writing of industrial fire insurance policies..." from the provisions of S. B. 107, Acts 53rd Legislature, Regular Session 1953, Chapter 196, Page 540 and S.B. 15, Acts 54th Legislature 1955, Chapter 117, Page 413. On March 12, 1953, the Board of Insurance Commissioners issued a temporary permit to Tri-County Mutual Insurance Company to organize a county mutual fire insurance company under the provisions of Chapter 17, Insurance Code. This permit granted the company authority to solicit and receive applications for insurance and collect premiums thereon and issue receipts therefor as provided by statutes, but not to issue policies of insurance or pay claims. Thereafter, on June 4, 1953, and based upon affidavits, general interrogatories, policy forms, rates and applications dated and file marked June 2 and June 4, 1953, the Board of Insurance Commissioners granted to the Tri-County Mutual Insurance Company a certificate of authority to pursue the business of a county mutual fire insurance company in accordance with the provisions of Chapter 17, Insurance Code. Between the issuance to the company of the temporary permit and permanent certificate of authority, S. B. 107 became effective on May 22, 1953, and made certain financial requirements of county mutual insurance companies. However, S. B. 107 contained the following exemption:2"The provisions of this Act shall not apply to any county mutual insurance company now organized and operating as a county mutual fire insurance company whose business is devoted exclusively to the writing of industrial fire insurance policies.
..."Thereafter, on June 20, 1954, the company was issued a certificate...
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