Texas Insurance Code - Section 441.053. Notice To Insurer
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§ 441.053. NOTICE TO INSURER. (a) If at any time the
commissioner determines that an insurer is insolvent, has exceeded
the insurer's powers, or has otherwise failed to comply with the
law, the commissioner shall:
(1) notify the insurer of that determination;
(2) provide to the insurer a written list of the
commissioner's requirements to abate the conditions on which that
determination was based; and
(3) if the commissioner determines that the insurer
requires supervision, notify the insurer that the insurer is under
the commissioner's supervision and that the commissioner is
invoking this chapter.
(b) The commissioner may provide the notice and information
to an insurer that agrees to supervision.
(c) The insurer shall comply with the commissioner's
requirements.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 441.004 441.005 441.006 441.007 441.008 441.051 441.052 441.053 441.101 441.102 441.103 441.104 441.105 441.151 441.152
Last modified: August 10, 2007
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