Texas Insurance Code - Section 441.159. Duration Of Conservatorship
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§ 441.159. DURATION OF CONSERVATORSHIP. (a) Except as
provided by Subsection (b), a conservator appointed under this
chapter shall complete the conservator's duties as required by this
chapter not later than the 90th day after the date of appointment.
(b) If the commissioner issues written findings that there
is a substantial likelihood of rehabilitation of the insurer in
conservatorship, the commissioner may extend the conservatorship
for additional successive 30-day periods. The total period of
extensions may not exceed 180 consecutive days. A hearing is not
required before the commissioner issues the findings.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 441.152 441.153 441.154 441.155 441.156 441.157 441.158 441.159 441.160 441.201 441.202 441.203 441.204 441.205 441.206
Last modified: August 10, 2007
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