# 28 Tex. Admin. Code § 7.1606: 28 TAC § 7.1606. Requirements Related to Ownership Interest and Change of Control

> Texas · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1606

## Section

- **Citation:** 28 Tex. Admin. Code § 7.1606
- **Heading:** 28 TAC § 7.1606. Requirements Related to Ownership Interest and Change of Control
- **Jurisdiction:** Texas
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Texas Administrative Code / Title 28 INSURANCE / Part 1 TEXAS DEPARTMENT OF INSURANCE / Chapter 7 CORPORATE AND FINANCIAL REGULATION / 28 TAC § 7.1606

## Text

(a) For purposes of this section only, control:
(1) means the power to direct, or cause the direction of, the management and policies of a person, other than the power that results from an official position with or corporate office held by the person;
(2) may be possessed by various means, including through:
(A) ownership of voting securities;
(B) ownership by contract; or
(C) direct or indirect control of one or more persons that control an administrator; and
(3) exists if an individual or a member of an individual's immediate family, directly or indirectly, owns, controls, or holds with the power to vote 10 percent or more of the voting securities or authority of:
(A) an administrator; or
(B) another person that directly or indirectly controls an administrator, including when a person holds proxies representing 10 percent or more of the voting securities or authority of the person.
(b) Pursuant to the Insurance Code §4151.052(b), an applicant or an administrator shall notify the department in writing of a change of control in the ownership of the applicant or administrator not later than the 30th day after the effective date of the change.
(c) An applicant or administrator may not file the notification required by subsection (b) of this section until a proposed acquisition of control has been approved under the Insurance Code §4151.211.

## Nearby sections

- [28 Tex. Admin. Code § 7.1601 28 TAC § 7.1601. Scope](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1601.md)
- [28 Tex. Admin. Code § 7.1602 28 TAC § 7.1602. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1602.md)
- [28 Tex. Admin. Code § 7.1603 28 TAC § 7.1603. Certificate of Authority Required](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1603.md)
- [28 Tex. Admin. Code § 7.1604 28 TAC § 7.1604. Application for Certificate of Authority](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1604.md)
- [28 Tex. Admin. Code § 7.1605 28 TAC § 7.1605. Notification Requirements](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1605.md)
- [28 Tex. Admin. Code § 7.1606 28 TAC § 7.1606. Requirements Related to Ownership Interest and Change of Control](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1606.md)
- [28 Tex. Admin. Code § 7.1607 28 TAC § 7.1607. Facts and Circumstances Affecting Issuance of Certificate of Authority](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1607.md)
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- [28 Tex. Admin. Code § 7.1612 28 TAC § 7.1612. Fiduciary Bank Accounts](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1612.md)
- [28 Tex. Admin. Code § 7.1613 28 TAC § 7.1613. Written Agreements Between Administrators and Insurers](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1613.md)
- [28 Tex. Admin. Code § 7.1614 28 TAC § 7.1614. Prohibited Acts](https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1614.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TX_TAC_T28_P1_C7_S7_1606. Check the current official text before relying on it. Not legal advice.