Texas Insurance Code - Section 401.052. Frequency Of Examination
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§ 401.052. FREQUENCY OF EXAMINATION. (a) The department
shall visit and examine a carrier:
(1) annually during the first three years after the
carrier is organized or incorporated; and
(2) except as provided by Subsection (b), once every
three years after the period described by Subdivision (1), or on a
more frequent basis as the department considers necessary.
(b) If the commissioner determines that the financial
strength of a carrier justifies less frequent examinations than
those required under Subsection (a)(2), the department may conduct
the examination at intervals not less frequent than every five
years. The commissioner shall adopt rules governing the
determination under this subsection of whether the financial
strength of a carrier justifies less frequent examinations.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 401.016 401.017 401.018 401.019 401.020 401.021 401.051 401.052 401.053 401.054 401.055 401.056 401.057 401.058 401.059
Last modified: August 11, 2007
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