Texas Insurance Code - Section 441.104. Prohibited Acts During Supervision
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§ 441.104. PROHIBITED ACTS DURING SUPERVISION. During
supervision, the commissioner may prohibit the insurer from taking
any of the following actions without the prior approval of the
commissioner or supervisor:
(1) disposing of, conveying, or encumbering any of the
insurer's assets or business in force;
(2) withdrawing money from the insurer's bank
accounts;
(3) lending or investing the insurer's money;
(4) transferring the insurer's property;
(5) incurring a debt, obligation, or liability;
(6) merging or consolidating with another company;
(7) entering into a new reinsurance contract or
treaty;
(8) terminating, surrendering, forfeiting,
converting, or lapsing an insurance policy, except for nonpayment
of premiums due; or
(9) releasing, paying, or refunding premium deposits,
accrued cash or loan values, unearned premiums, or other reserves
on an insurance policy.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 441.008 441.051 441.052 441.053 441.101 441.102 441.103 441.104 441.105 441.151 441.152 441.153 441.154 441.155 441.156
Last modified: August 10, 2007
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