In this chapter, "carrier" means:
(1) an insurance company that is authorized by the department to provide under this code any of the types of insurance coverages, benefits, or services provided for in this chapter, and that:
(A) has an adequate surplus;
(B) has a successful operating history; and
(C) has had successful experience, as determined by the department, in providing and servicing any of the types of group coverage provided for in this chapter;
(2) a corporation operating under Chapter 842 that provides any of the types of coverage, benefits, or services provided for in this chapter and that:
(A) has a successful operating history; and
(B) has had successful experience, as determined by the department, in providing and servicing any of the types of group coverage provided for in this chapter; or
(3) any combination of carriers described by Subdivisions (1) and (2) on terms the system prescribes.
Official text of the Texas Insurance Code as published by the Texas Legislative Council.