Texas Insurance Code - Section 441.151. Appointment Of Conservator
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§ 441.151. APPOINTMENT OF CONSERVATOR. (a) The
commissioner may appoint a conservator for an insurer:
(1) if:
(A) after notice and opportunity for hearing, it
is determined that the insurer:
(i) is insolvent;
(ii) appears to have exceeded the insurer's
powers; or
(iii) has failed to comply with any
requirement of the commissioner; or
(B) the insurer agrees to the appointment of a
conservator; and
(2) if it is determined that supervision is inadequate
to rehabilitate the insurer.
(b) The commissioner may appoint a conservator.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 441.052 441.053 441.101 441.102 441.103 441.104 441.105 441.151 441.152 441.153 441.154 441.155 441.156 441.157 441.158
Last modified: August 10, 2007
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