Texas Insurance Code - Section 441.155. Reinsurance During Conservatorship
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Texas Lawyer > Insurance Code > Texas Insurance Code - Section 441.155. Reinsurance During Conservatorship
§ 441.155. REINSURANCE DURING CONSERVATORSHIP. (a) If
during a conservatorship it appears that the interest of the
insurer's policyholders or certificate holders is best protected by
reinsuring the policies or certificates, the conservator may, with
the approval of or at the direction of the commissioner:
(1) reinsure all or part of the insurer's policies or
certificates with a solvent insurer authorized to engage in
business in this state; and
(2) to the extent that the insurer has reserves
attributable to the reinsured policies or certificates, transfer to
the reinsurer reserves in an amount sufficient to reinsure the
policies or certificates.
(b) A transfer of reserves under this section may not be
considered a preference of a creditor.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 441.103 441.104 441.105 441.151 441.152 441.153 441.154 441.155 441.156 441.157 441.158 441.159 441.160 441.201 441.202
Last modified: August 10, 2007
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