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Texas Insurance Code - Chapter 441 Supervision And ConservatorshipLegal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Chapter 441 Supervision And Conservatorship (a) An insurer delinquency, or the state's inability to properly proceed in a threatened delinquency, directly or indirectly affects other insurers by creating a lack ... In this chapter, unless the purposes of this chapter clearly require or the context clearly indicates another meaning, "insurer" means a person, organization, or company, ... Compliance with this chapter is a condition of engaging in the business of insurance in this state. This chapter applies to, and is a consequence ... (a) In the event of an insurer's delinquency or suspected delinquency, the commissioner, in the commissioner's administrative discretion, may act under this chapter, another applicable ... (a) The commissioner may: (1) adopt reasonable rules as necessary to implement and supplement this chapter and the purposes of this chapter; and (2) take ... (a) The commissioner shall adopt rules that encourage the merger of insurers in weak financial condition with insurers in strong financial condition in cases in ... If this chapter conflicts with any other law, this chapter prevails. Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007. ... Section 2001.062, Government Code, does not apply to a hearing conducted under this chapter. Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. ... For the purposes of this chapter, the circumstances in which an insurer is considered insolvent, delinquent, or threatened with delinquency include circumstances in which the ... For the purposes of this chapter, the circumstances in which an insurer is considered to have exceeded the insurer's powers include circumstances in which the ... (a) If at any time the commissioner determines that an insurer is insolvent, has exceeded the insurer's powers, or has otherwise failed to comply with ... The commissioner may appoint a supervisor to supervise an insurer. Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007. ... An insurer under supervision must comply with the commissioner's requirements under Section 441.053 not later than the 180th day after the date of the commissioner's ... An insurer under supervision shall continue to pay claims under an insurance policy according to the terms of the policy. Added by Acts 2005, 79th ... During supervision, the commissioner may prohibit the insurer from taking any of the following actions without the prior approval of the commissioner or supervisor: (1) ... (a) On the commissioner's own motion or the motion of a party of record, a hearing may be scheduled relating to an insurer under supervision ... (a) The commissioner may appoint a conservator for an insurer: (1) if: (A) after notice and opportunity for hearing, it is determined that the insurer: ... (a) Not later than the seventh day after the date the commissioner enters an order appointing a conservator for an insurer as provided by Section ... (a) The conservator appointed for an insurer under Section 441.151 shall immediately take charge of the insurer and all of the insurer's property, books, records, ... An insurer under conservatorship shall continue to pay claims under an insurance policy according to the terms of the policy. Added by Acts 2005, 79th ... (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 ... (a) On the commissioner's own motion or the motion of a party of record, a hearing relating to an insurer in conservatorship may be scheduled ... A conservator and the conservator's agents and employees are not liable, and a cause of action does not arise against the conservator or an agent ... (a) A suit against an insurer in conservatorship or against the conservator may be filed only in Travis County unless the cause of action is ... (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 ... An insurer that is rehabilitated shall be returned to management or placed under new management under reasonable conditions that best tend to prevent defeat of ... (a) Hearings and orders, notices, correspondence, reports, records, and other information in the department's possession relating to the supervision or conservatorship of an insurer are ... The commissioner shall determine the costs related to services provided by a supervisor or conservator under this chapter. Subject to Section 442.551, the costs shall ... (a) The commissioner may collect fees from an insurer described by Section 82.002 that is successfully rehabilitated by the commissioner. The fees must be in ... (a) An insurer under supervision or conservatorship may request the commissioner or, in the commissioner's absence, the commissioner's appointed deputy to review an action taken ... The following orders of the commissioner may be appealed under Subchapter D, Chapter 36: (1) an order appointing a supervisor and providing that the insurer ... Notwithstanding any other law, the commissioner may, at the time of any proceeding or while a proceeding is pending under this chapter, meet with a ... (a) Notwithstanding any other provision of this chapter, an insurer may employ an attorney, actuary, and accountant of the insurer's choice to assist the insurer ... This chapter applies to an insurer engaged in the business of insurance in this state but not domiciled in this state, regardless of whether the ... (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 ... (a) An ancillary supervisor or ancillary conservator appointed under this subchapter has all the powers provided by Sections 441.153 and 441.155 with respect to the ... The failure of an insurer described by Section 441.251 to comply during supervision with the requirements of Section 441.104 with respect to any asset or ... The commissioner may refer an insurer described by Section 441.251 to the attorney general for remedial action, including application for appointment of a receiver under ... (a) The commissioner may, at any time and regardless of whether an insurer is under supervision or conservatorship, determine that the insurer is not in ... (a) Once all an insurer's policies are reinsured or terminated and the insurer's affairs are concluded as provided by this chapter, the commissioner shall report ... (a) Unless otherwise prohibited, the supervisor, conservator, or receiver of an insurer shall provide to the insured's agent of record a copy of each communication ... Last modified: August 10, 2007 |