Texas Insurance Code

§ 441.052 — CIRCUMSTANCES CONSTITUTING INSURER EXCEEDING POWERS

IN § 441.052Title 4. REGULATION OF SOLVENCY · Part C. DELINQUENT INSURERS · Ch. 441. SUPERVISION AND CONSERVATORSHIP · Art. B. DETERMINATION AND NOTICE

Statute text

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For the purposes of this chapter, the circumstances in which an insurer is considered to have exceeded the insurer's powers include circumstances in which the insurer:

(1)refuses to permit the commissioner, the commissioner's deputy, or an examiner appointed by the department to examine the insurer's books, papers, accounts, records, or affairs;

(2)is organized in this state and removes from the state books, papers, accounts, or records that are necessary to examine the insurer;

(3)fails to promptly answer inquiries authorized by Section 38.001;

(4)fails to comply with an order of the commissioner to remedy, within the time prescribed by law, a prohibited deficiency in the insurer's capital, capital stock, or surplus;

(5)without obtaining the commissioner's prior written approval:

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Legislative history

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