Texas Insurance Code

§ 964.065 — SUSPENSION OR REVOCATION OF CERTIFICATE OF AUTHORITY

IN § 964.065Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part H. OTHER ENTITIES · Ch. 964. CAPTIVE INSURANCE COMPANIES · Art. B. CAPTIVE INSURANCE COMPANIES

Statute text

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The commissioner, after notice and an opportunity for hearing, may revoke or suspend the certificate of authority of a captive insurance company for:

(1)insolvency or impairment of required capital or surplus, or the equivalent, to policyholders;

(2)failure to submit an annual report, as required by Section 964.060;

(3)failure to comply with the provisions of its own charter, bylaws, rules, or other governing document;

(4)failure to submit to examination, as required by Chapter 401;

(5)failure to pay the cost of examination, as required by Chapter 401;

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Legislative history

Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 1.15, eff. June 15, 2017.