Texas Insurance Code - Section 441.105. Hearing On Supervision; Termination By Conservation Or Release
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§ 441.105. HEARING ON SUPERVISION; TERMINATION BY
CONSERVATION OR RELEASE. (a) On the commissioner's own motion or
the motion of a party of record, a hearing may be scheduled relating
to an insurer under supervision after a Notice may be waived by the
parties of record.
(b) The commissioner shall place the insurer in
conservatorship if, after the hearing, it is determined that the
insurer:
(1) failed to comply with the commissioner's
requirements;
(2) has not been rehabilitated;
(3) is insolvent; or
(4) appears to have exceeded the insurer's powers.
(c) The commissioner may release the insurer from
supervision if, after the hearing, it is determined that the
insurer:
(1) has been rehabilitated; or
(2) is no longer in a condition that makes the
insurer's continuation in business hazardous to the public or to
the insurer's policyholders or certificate holders.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 441.051 441.052 441.053 441.101 441.102 441.103 441.104 441.105 441.151 441.152 441.153 441.154 441.155 441.156 441.157
Last modified: August 11, 2007
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