Texas Insurance Code - Section 427.053. Approval Of Agreement Required
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§ 427.053. APPROVAL OF AGREEMENT REQUIRED. (a) An
insurer or health maintenance organization must submit the written
agreement under Section 427. 052 to the commissioner for approval
of the form and content of the agreement.
(b) The commissioner must approve or disapprove the
agreement not later than the 30th day after the date the insurer or
health maintenance organization submits the agreement. If the
commissioner fails to act as required by this subsection, the
agreement is considered approved.
(c) An insurer or health maintenance organization may
assume a subordinated liability only after the commissioner has
approved the agreement under this chapter or Subchapter C, Chapter
823.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 426.001 426.002 426.003 427.001 427.002 427.051 427.052 427.053 427.054 427.055 441.001 441.002 441.003 441.004 441.005
Last modified: August 10, 2007
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