Texas Insurance Code
§ 441.105 — HEARING ON SUPERVISION; TERMINATION BY CONSERVATION OR RELEASE
IN § 441.105Title 4. REGULATION OF SOLVENCY · Part C. DELINQUENT INSURERS · Ch. 441. SUPERVISION AND CONSERVATORSHIP · Art. C. SUPERVISION
Statute text
View on source(a)On the commissioner's own motion or the motion of a party of record, a hearing may be scheduled relating to an insurer under supervision after at least 10 days' written notice to each party of record. Notice may be waived by the parties of record.
(b)The commissioner shall place the insurer in conservatorship if, after the hearing, it is determined that the insurer:
(1)failed to comply with the commissioner's requirements;
(2)has not been rehabilitated;
(3)is insolvent; or
(4)appears to have exceeded the insurer's powers.
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Legislative history
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.