Texas Insurance Code - Not Codified - Section 21A.010. Cooperation Of Officers, Owners, And Employees
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Sec. 21A.010. COOPERATION OF OFFICERS, OWNERS, AND
EMPLOYEES. (a) Any present or former officer, manager, director,
trustee, owner, employee, or agent of any insurer, or any other
persons with authority over or in charge of any segment of the
insurer's affairs, shall cooperate with the commissioner or
receiver in any proceeding under this chapter or any investigation
preliminary to the proceeding. For purposes of this section:
(1) "person" includes any person who exercises control
directly or indirectly over activities of the insurer through any
holding company or other affiliate of the insurer; and
(2) "cooperate" includes:
(A) replying promptly in writing to any inquiry from the
commissioner or receiver requesting the reply; and
(B) promptly making available to the commissioner or
receiver any books, accounts, documents, or other records or
information or property of or pertaining to the insurer and in the
person's possession, custody, or control.
(b) A person may not obstruct or interfere with the
commissioner or receiver in the conduct of any delinquency
proceeding or any preliminary or incidental investigation.
(c) This section may not be construed to abridge otherwise
existing legal rights, including the right to resist a petition for
liquidation or other delinquency proceedings, or other orders.
(d) Any person described by Subsection (a) who fails to
cooperate with the commissioner or receiver, or any person who
obstructs or interferes with the commissioner or receiver in the
conduct of any delinquency proceeding or any preliminary or
incidental investigation, or who violates any order validly issued
under this chapter:
(1) commits an offense; and
(2) is subject to the imposition by the commissioner of an
administrative penalty not to exceed $10,000 and subject to the
revocation or suspension of any licenses issued by the commissioner
in accordance with Chapters 82 and 84.
(e) An offense under Subsection (d) is punishable by a fine
not exceeding $10,000 or imprisonment for not more than one year, or
both fine and imprisonment.
Added by Acts 2005, 79th Leg., ch. 995, Sec. 1, eff. Sept. 1, 2005.
Section: 21A.003 21A.004 21A.005 21A.006 21A.007 21A.008 21A.009 21A.010 21A.011 21A.012 21A.013 21A.0135 21A.014 21A.015 21A.016
Last modified: August 11, 2007
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