Texas Insurance Code

§ 404.005 — STANDARDS AND CRITERIA FOR EARLY WARNING

IN § 404.005Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 404. FINANCIAL CONDITION · Art. A. HAZARDOUS FINANCIAL CONDITION

Statute text

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(a)The commissioner by rule may:

(1)establish uniform standards and criteria for early warning that the continued operation of an insurer might be hazardous to the insurer's policyholders or creditors or to the public; and

(2)establish standards for evaluating the financial condition of an insurer.

(b)Standards established by the commissioner under this section must be consistent with the purposes of Section 404.003.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.