Texas Insurance Code - Section 442.112. Business Plan Reports; Other Periodic Reports
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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.
Section: 442.105 442.106 442.107 442.108 442.109 442.110 442.111 442.112 442.113 442.114 442.115 442.116 442.117 442.118 442.119
Last modified: August 11, 2007
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