Texas Insurance Code
§ 841.207 — ACTIONS OF COMMISSIONER WHEN CAPITAL AND SURPLUS REQUIREMENTS NOT SATISFIED
IN § 841.207Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES · Ch. 841. LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES · Art. E. CAPITAL AND SURPLUS
Statute text
View on sourceIf an insurance company does not comply with the capital and surplus requirements of this chapter, the commissioner may order the insurance company to cease writing new business and may:
(1)place the insurance company under state supervision or conservatorship;
(2)declare the insurance company to be in a hazardous condition as provided by Subchapter A, Chapter 404;
(3)declare the insurance company to be impaired as provided by Section 841.206; or
(4)apply to the insurance company any other applicable sanction provided by this code. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by:
Legislative history
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.022, eff. April 1, 2009.