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Texas Insurance Code - Section 442.112. Business Plan Reports; Other Periodic Reports

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 442.112. Business Plan Reports; Other Periodic Reports

§ 442.112. BUSINESS PLAN REPORTS;  OTHER PERIODIC 
REPORTS.  (a) A special deputy receiver shall submit a monthly 
written report to the court and the commissioner that states the 
special deputy receiver's business plan for the receivership, 
including:
		(1)  the expenses incurred in administering the 
receivership during the preceding month and an estimate of those 
expenses for the succeeding month;
		(2)  a cost-benefit analysis of the expenditure of 
money other than money spent to pay claims;
		(3)  a budget of monthly expenses that explains any 
variation from the original projection;  and
		(4)  a list of any lawyers or law firms that offered to 
represent or represented the special deputy receiver in relation to 
the special deputy receiver's duties under this chapter, and any 
hours billed or fees paid to a lawyer or law firm that represented 
the special deputy receiver.
	(b)  The special deputy receiver shall submit the business 
plan report to the attorney general quarterly, and the attorney 
general may make recommendations to the commissioner based on the 
report.
	(c)  In addition to the business plan report, the special 
deputy receiver shall submit to the commissioner a monthly report 
relating to the special deputy receiver's activities in 
administering the receivership.
	(d)  On written application by the special deputy receiver 
and with the approval of the commissioner, the court may suspend the 
requirement for monthly reports, or require less frequent reports, 
on a showing that the costs of the monthly reports exceed the 
benefit derived from those reports. 

Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.           

Last modified: August 10, 2007