Texas Insurance Code

§ 861.256 — FAILURE TO MAKE DEPOSIT OR DELIVER ANNUAL STATEMENT

IN § 861.256Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part D. CASUALTY COMPANIES · Ch. 861. GENERAL CASUALTY COMPANIES · Art. F. REGULATION OF GENERAL CASUALTY COMPANY

Statute text

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(a)If a general casualty company fails to make a deposit under Section 861. 252 or to deliver an annual statement under Section 861.254 in a timely manner, the department shall notify the company that the company may not issue new insurance until the deposit is made or the statement is delivered to the department.

(b)A general casualty company may not issue an insurance policy in violation of this section.

Legislative history

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