Texas Insurance Code - Section 441.252. Appointment Of Ancillary Supervisor Or Conservator
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Texas Lawyer > Insurance Code > Texas Insurance Code - Section 441.252. Appointment Of Ancillary Supervisor Or Conservator
§ 441.252. APPOINTMENT OF ANCILLARY SUPERVISOR OR
CONSERVATOR. (a) The commissioner may appoint an ancillary
supervisor or ancillary conservator for the assets located in this
state of an insurer described by Section 441.251 in the same manner
as the commissioner appoints a supervisor or conservator for an
insurer domiciled in this state as provided by this chapter if:
(1) the commissioner makes a determination described
by Section 441.053 with regard to the insurer;
(2) the commissioner determines that the insurer does
not have the minimum surplus, capital, or capital stock required by
this code for similar domestic insurers; or
(3) the insurer agrees to the appointment.
(b) Subject to Section 441.205, the commissioner may
immediately, without prior notice and hearing, appoint an ancillary
conservator for the assets, property, books, and records located in
this state of an insurer described by Section 441.251 if a
conservator, rehabilitator, receiver, liquidator, or equivalent
official is appointed in the state in which the insurer is
domiciled.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 441.202 441.203 441.204 441.205 441.206 441.207 441.251 441.252 441.253 441.254 441.255 441.301 441.302 441.351 442.001
Last modified: August 11, 2007
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