Texas Insurance Code

§ 886.701 — REVOCATION

IN § 886.701Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 886. LOCAL MUTUAL AID ASSOCIATIONS · Art. O. DISCIPLINARY PROCEDURES AND CRIMINAL PENALTY

Statute text

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Except as otherwise provided by law, the department may revoke the right of a local mutual aid association to engage in the business of insurance in this state only on:

(1)the judgment of a court;

(2)the filing of articles of dissolution by the members of the association or by the officers on behalf of the members; or

(3)a filing showing that the association's membership has been merged and taken over by another association.

Legislative history

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