Texas Insurance Code

§ 827.007 — PENALTIES

IN § 827.007Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 827. WITHDRAWAL AND RESTRICTION PLANS

Statute text

View on source

The commissioner may impose the civil penalties under Chapter 82 on an insurer that fails to obtain the commissioner's approval before the insurer:

(1)withdraws from writing a line of insurance in this state; or

(2)reduces the insurer's total annual premium volume by 75 percent or more in any year.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.