Texas Insurance Code

§ 441.104 — PROHIBITED ACTS DURING SUPERVISION

IN § 441.104Title 4. REGULATION OF SOLVENCY · Part C. DELINQUENT INSURERS · Ch. 441. SUPERVISION AND CONSERVATORSHIP · Art. C. SUPERVISION

Statute text

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During supervision, the commissioner may prohibit the insurer from taking any of the following actions without the prior approval of the commissioner or supervisor:

(1)disposing of, conveying, or encumbering any of the insurer's assets or business in force;

(2)withdrawing money from the insurer's bank accounts;

(3)lending or investing the insurer's money;

(4)transferring the insurer's property;

(5)incurring a debt, obligation, or liability;

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Legislative history

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