Texas Insurance Code

§ 406.003 — REQUIRED DEPOSIT: STANDARDS AND CRITERIA

IN § 406.003Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 406. SPECIAL DEPOSITS REQUIRED UNDER POTENTIALLY

Statute text

View on source

The commissioner, in the commissioner's sole discretion, may require an insurer to make a deposit under this chapter if the commissioner determines that one of the following conditions, if not rectified, may potentially be hazardous to the insurer's policyholders, enrollees, or creditors, or to the public:

(1)the insurer's financial or operating condition, reviewed in conjunction with the kinds and nature of risks insured;

(2)the insurer's method of operation;

(3)the insurer's relationship with affiliates;

(4)the nature and amount of the insurer's investments;

(5)the insurer's contracts that may lead to a contingent liability; or

…

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.