Texas Insurance Code

§ 984.204 — AUTHORITY TO REVOKE OR SUSPEND CERTIFICATE OF AUTHORITY

IN § 984.204Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part I. SURPLUS LINES INSURERS; COMPANIES NOT ORGANIZED IN TEXAS · Ch. 984. MEXICAN CASUALTY INSURANCE COMPANIES · Art. E. REGULATION AND ENFORCEMENT

Statute text

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The commissioner may revoke or suspend a Mexican casualty insurance company's certificate of authority under this chapter if the commissioner, after notice and an opportunity for a hearing, determines that the company, with neglect and wilful disregard, systematically failed to comply with obligations derived from insurance policies issued in this state and the laws applicable to those policies.

Legislative history

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