Texas Insurance Code

§ 827.003 — WITHDRAWAL PLAN REQUIRED

IN § 827.003Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 827. WITHDRAWAL AND RESTRICTION PLANS

Statute text

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An insurer shall file with the commissioner a plan for orderly withdrawal if the insurer proposes to:

(1)reduce the insurer's total annual premium volume by 50 percent or more;

(2)reduce the insurer's annual premium by 75 percent or more in a line of insurance in this state; or

(3)reduce in this state, or in any applicable rating territory, the insurer's total annual premium volume in a line of personal automobile or residential property insurance by 50 percent or more.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by Acts 2003, 78th Leg., ch. 206, Sec. 10.03, eff. June 11, 2003.