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Texas Insurance Code - Not Codified - Section 21A.156. Duties Of Agents

Legal Research Home > Texas Lawyer > Insurance Code - Not Codified > Texas Insurance Code - Not Codified - Section 21A.156. Duties Of Agents

Sec. 21A.156. DUTIES OF AGENTS.  (a) Every person who
represented the insurer as an agent and receives notice in the form
prescribed in Section 21A.155 that the insurer is the subject of a
liquidation order, not later than the 30th day after the date of the
notice, shall provide to the liquidator, in addition to the
information the agent may be required to provide pursuant to
Section 21A.010, the information in the agent's records related to
any policy issued by the insurer through the agent and any policy
issued by the insurer through an agent under contract to the agent,
including the name and address of any subagent.  For purposes of
this subsection, a policy is issued through an agent if the agent
has a property interest in the expiration of the policy or if the
agent has had in the agent's possession a copy of the declarations
of the policy at any time during the life of the policy, except
where the ownership of the expiration of the policy has been
transferred to another.
	(b)  Any agent failing to provide information to the
liquidator as required in Subsection (a) may be subject to payment
of an administrative penalty under Chapter 84 of not more than
$1,000.  In addition, the agent's license may be suspended under
Chapter 4005.

Added by Acts 2005, 79th Leg., ch. 995, Sec. 1, eff. Sept. 1, 2005.

Last modified: August 11, 2007